Summary
In Greene, this court indicated that a corporate charter provision authorizing the corporation to buy a shareholder's stock at any time at its net asset value, even from an unwilling seller, might be an invalid restriction on transfer.
Summary of this case from Capital Group Companies Inc. v. ArmourOpinion
June 15, 1937.
Hugh M. Morris and Edwin D. Steel, Jr., both of Wilmington (Louis Quarles, of Lines, Spooner Quarles, of Milwaukee, Wis., of counsel), for appellant.
Aaron Finger (of Richards, Layton Finger), of Wilmington, and Malcolm Mecartney, of Chicago, Ill., for appellee.
The record and briefs have been carefully considered. The preliminary injunction prayed for by the complainant was properly issued, and the opinion of the Chancellor sufficiently discloses the reasons therefor. The decree, 191 A. 887, is affirmed.