(Download) "Daniels v. Briggs Et Al." by Supreme Court of Minnesota ~ eBook PDF Kindle ePub Free
eBook details
- Title: Daniels v. Briggs Et Al.
- Author : Supreme Court of Minnesota
- Release Date : January 18, 1932
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
WAIT, J. This is a bill by a minority stockholder in the C. A. Briggs Company brought against the company, W. E. Briggs, a director of the corporation, and C. A. Briggs, its president, treasurer, a director and owner of all but two shares of its stock except the eighty shares owned by the plaintiff. The plaintiff and the individual defendants constitute the board of directors. The bill charged mal-administration and misfeasance; refusal to declare and pay dividends although the corporation has a surplus and is in a position to pay them; the payment of inordinate salaries to the individual defendants; arbitrary control exercised to compel minority stockholders to part with their stock at less than its real value; the issue to C. A. Briggs of a large number of shares at par value, when the actual value was greatly in excess of par, for salaries alleged to be due but, in fact, not legally due him. It was filed November 14, 1924. By a supplemental bill allowed July 17, 1929, the offenses complained of were alleged to have continued. It prayed appointment of a receiver, an account by the individual defendants of moneys due from them to the corporation, the cancellation of certificates of stock not issued for legal consideration, an account of the accumulated profits and net earnings of the corporation, and an order for the payment of dividends as well as for general relief. Appeals by the defendants from orders overruling demurrers are not pressed.
 "Daniels v. Briggs Et Al." by Supreme Court of Minnesota ~ eBook PDF Kindle ePub Free){kind=link}