(DOWNLOAD) "John G. Baron v. Allied Artists Pictures" by New Castle County Court of Chancery of Delaware # Book PDF Kindle ePub Free
eBook details
- Title: John G. Baron v. Allied Artists Pictures
- Author : New Castle County Court of Chancery of Delaware
- Release Date : January 28, 1978
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 72 KB
Description
In these consolidated actions, counsel for the plaintiff have petitioned for an allowance of counsel fees in the sum of $276,800 plus the sum of $5,155.70 for expenses incurred in the prosecution of the matter. The defendants Allied Artists Pictures Corporation (Allied) and the named individual members of its Board of Directors, oppose the award of any fees and expenses to plaintiff's counsel and ask further that plaintiff be ordered to reimburse Allied for the costs and counsel fees it was forced to expend in defending what it concludes were meritless actions. Allied's position is based on the following factors. During the course of the litigation the plaintiff, John G. Baron, was the owner of 10 shares of Allied's common stock. The consolidated suits here were brought by him pursuant to 8 Del.C. § 225 to challenge the 1973 and 1974 election of directors to Allied's Board. The basis for the challenge was that Allied's Board of Directors, which was then being elected by the preferred shareholders due to an existing delinquency in the payment of preferred dividends, was wrongfully perpetuating its control of the corporation to the detriment of the common stockholders (1) by not paying the accumulated dividend arrearages on the preferred stock and (2) by failing to comply with sinking fund requirements relating to Allied's preferred stock. Reference is made to Baron v. Allied Artists Pictures Corporation, Del. Ch., 337 A.2d 653 (1975) for the details thereof.
 "John G. Baron v. Allied Artists Pictures" by New Castle County Court of Chancery of Delaware # Book PDF Kindle ePub Free){kind=link}