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McPHAIL v. L. S. STARRETT COMPANY

Civ. A. 56-130.

157 F.Supp. 560 (1957)

Russell McPHAIL, Plaintiff, v. The L. S. STARRETT COMPANY, Defendant.

United States District Court D. Massachusetts.

December 5, 1957.

Attorney(s) appearing for the Case

Sherburne, Powers & Needham, Walter Powers, Boston, Mass., for plaintiff.

Charles B. Rugg, Ropes, Gray, Best, Coolidge & Rugg, Boston, Mass., for defendant.

SWEENEY, Chief Judge.

This is an action wherein the plaintiff seeks to enjoin the defendant (hereinafter referred to as the Company) from carrying into effect an Employees' Stock Option Plan (hereinafter referred to as the Plan) on the grounds that it is illegal in certain respects and was not properly adopted. Jurisdiction is based on diversity of citizenship.

Findings of Fact

The Company, a Massachusetts corporation, has only one class of stock...

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