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SEED PRODUCTS INTERN., INC. v. OWEN

No. 880247-CA.

768 P.2d 973 (1989)

Atlas Stock Transfer Corporation, Plaintiff, v. SEED PRODUCTS INTERNATIONAL, INC., and Johnson-Bowles and Company, Inc. Defendants and Appellant, v. Sharon OWEN, Defendant and Respondent.

Court of Appeals of Utah.

January 27, 1989.

Attorney(s) appearing for the Case

Elwood P. Powell, Salt Lake City, for defendants and appellant.

Edward T. Wells, Salt Lake City, for defendant and respondent.

Before BENCH, GARFF and ORME, JJ.

BENCH, Judge:

Defendant Seed Products International, Inc. ("Seed Products") seeks to modify a judgment entered for defendant Sharon Owen in an interpleader action. The sole issue on appeal is whether stock Owen received from Seed Product's predecessor is subject to a 20 to 1 reverse split. We conclude that it is not, and affirm the judgment.

On June 18, 1984, the shareholders of In-Tec International (U.S.A.), Inc. ("In-Tec"), a Utah corporation, approved a...

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