Barber v. Lewis and Kaufman, Inc.

This is an appeal by plaintiffs and appellants from a judgment dismissing their shareholders’ suit by reason of their failure to furnish security as required by an order of the trial court made pursuant to section 834 of the Corporations Code of the State of California.

This case presents a suit by certain minority stockholders of a California corporation to rescind a sale of substantially all of the assets of the corporation for a price exactly equivalent to the book value of the outstanding shares.

The defendant Lewis and Kaufman, Inc., is the selling corporation, the defendant Pacific…