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MOBILE PRESS REGISTER, INC. v. McGOWIN

1 Div. 680.

124 So.2d 812 (1960)

MOBILE PRESS REGISTER, INC., et al. v. Joseph F. McGOWIN, II, Individually and as Executor and Trustee under the last Will and Testament of Everette Leonard McGowin et al.

Supreme Court of Alabama.

November 17, 1960.

Attorney(s) appearing for the Case

C. B. Arendall, Jr., Hand, Arendall & Bedsole, Mobile, for appellants.

Francis H. Inge, Inge & Twitty, Mobile, for appellees.

GOODWYN, Justice.

This case was originally assigned to another Justice. It was reassigned to the writer on February 8, 1960, for study and preparation of an opinion.

The question in this case concerns the preemptive rights of stockholders in a private corporation to subscribe to proportionate parts of a proposed new issue of stock in the corporation.

The complainants below, appellees here, own stock in The Mobile Press Register, Inc. The directors...

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