Miller v. Magline, Inc.

On December 27, 1967, plaintiffs, minority shareholders, brought this action to compel the declaration and payment of dividends and to recover allegedly excessive compensation paid to named corporate officers. Trial was completed on April 29, 1970 and, in an opinion dated June 23, 1973, the chancellor concluded that a dividend should be declared, but denied the excess compensation claim, finding the compensation paid to defendant officers to have been reasonable. The amended judgment, dated September 15, 1975, ordered defendant Magline’s directors to declare and pay a dividend of $75 per…