Wright v. Tacoma Gas & Electric Light Co.

Citations

• 53 Wash. 262
• 101 P. 865
• 1909 Wash. LEXIS 1309

Syllabus

<p>Corporations — Stockholders — Meetings — Notice. The undisclosed owner of corporate stock is not entitled to notice of a stockholders’ meeting, where the stock stood in the name of his brother who managed it and was notified and appeared by proxy and voted at the meeting.</p> <p>Corporations — Suits by Stockholders — Equity — Laches. Minority owners of corporate stock are guilty of laches precluding them from maintaining an action to set aside a sale of all the corporate assets to another company, where it appears that they delayed six months before beginning suit, during which time they were waiting to see whether they could make a favorable sale of bonds of the old company held by them, and that during such time the new company had issued and sold thousands of bonds and expended a great amount of money in alterations and completing large operations.</p>