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NORTH AMER. URAN. & OIL CORP. v. SOUTH TEX. O. & G. CO.

129 A.2d 407 (1957)

NORTH AMERICAN URANIUM and OIL CORP., a Delaware Corporation, Plaintiff, v. SOUTH TEXAS OIL and GAS COMPANY, a Delaware Corporation, Defendant.

Court of Chancery of Delaware, New Castle.

February 8, 1957.

Attorney(s) appearing for the Case

Alexander L. Nichols (of Morris, Steel, Nichols & Arsht), Wilmington, and James L. Purcell (of Crisona Brothers), New York City, for plaintiff.

Clarence W. Taylor (of Hastings, Lynch & Taylor), Wilmington, and Charles G. Lyman, Corpus Christi, Tex., for defendant.

MARVEL, Vice Chancellor.

Plaintiff is the registered holder of 750,000 shares of common stock of the defendant corporation and seeks a statutory1 review of the validity of the election of defendant's board of directors at the annual meeting of stockholders of the corporation held on July 20, 1956. Plaintiff, who claims to be the beneficial as well as the record holder of 750,000 shares of defendant's stock, sets forth allegations in its...

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