Barnett v. Philadelphia Market Co.

Citations

• 218 Pa. 649
• 67 A. 912
• 1907 Pa. LEXIS 590

Syllabus

<p>Corporations — Consolidation and merger — Rights of dissatisfied stockholders — Ascertainment of value of stock — Equity—Act of May 29, 1901, P. L. 349.</p> <p>Where a corporation, such as a market company, has been consolidated and merged with another corporation, and a dissatisfied stockholder has not voted against the consolidation, his remedy to ascertain the value of his stock and to enforce payment thereof is by bill in equity and not by proceedings under the Act of May 29, 1901, P. L. 349.</p> <p>Even a stockholder who has voted against the consolidation is not confined to the remedy provided by the act of 1901. The protection given the stockholder in Lauman v. Lebanon Valley R. R. Co., 30 Pa. 42 is still to be found in chancery, assuring him actual payment for his stock, if he is compelled to part with it, instead of a judgment against the corporation for the value of it, to be collected “as other judgments are by law recoverable.”</p>