GOLDMAN v. UNION BANK AND TRUST

No. 87CA0326.

765 P.2d 638 (1988)

Sophie GOLDMAN and John T. Maley, Plaintiffs-Appellants, v. UNION BANK AND TRUST, a Colorado State Banking Institution, and its Board of Directors, Defendants-Appellees.

Colorado Court of Appeals, Div. IV.

Rehearing Denied September 15, 1988.

Certiorari Denied December 19, 1988.


Attorney(s) appearing for the Case

Robert A. Schiff, Denver, for plaintiffs-appellants.

Cogswell and Wehrle, William J. McCarren, Denver, for defendants-appellees.


NEY, Judge.

Plaintiffs, Sophie Goldman and John T. Maley, appeal from the summary judgment entered dismissing their complaint for injunctive relief. We affirm.

The questions presented for review are (1) whether a reverse stock split which has the effect of "freezing out" minority shareholders is authorized under the Colorado Corporation Code and (2), if it is, whether § 7-4-109, C.R.S. (1986 Repl.Vol. 3A) is unconstitutional as applied. We conclude that...

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