Strunk v. Owen

Citations

• 199 Pa. 73
• 48 A. 888
• 1901 Pa. LEXIS 560

Syllabus

<p>Corporations— Stockholder's meeting—Notice—Fraud—Street railways.</p> <p>In an action of trespass by a stockholder of a corporation against certain of the directors and officers of the corporation to recover damages for an alleged depreciation in the value of plaintiff’s stock resulting from the lease of the railway owned by the company, where the basis of plaintiff’s claim is that he was prevented by fraud from objecting to the lease at a meeting at which the lease was authorized, a nonsuit is properly entered where it appeared that a proper notice of the meeting was duly sent to the stockholders accompanied with a request for proxies, and it appears that the plaintiff attended the meeting and voted, and that the plaintiff and other stockholders knew before the meeting that a vote on the lease was to be taken. In such a case where full information was given as to the terms of the lease, it was immaterial that preliminary negotiations preceding and leading up to the offer of the lease were not communicated to the stockholders.</p>