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IN RE FARM INDUSTRIES, INC.

196 A.2d 582 (1963)

In the Matter of FARM INDUSTRIES, INC., a Delaware Corporation.

Court of Chancery of Delaware, New Castle.

November 20, 1963.

Attorney(s) appearing for the Case

Hugh L. Corroon, of Berl, Potter & Anderson, Wilmington, and Wesley J. Liebeler, of Carter, Ledyard & Milburn, of New York City, for petitioners.

Howard L. Williams, of Morris, James, Hitchens & Williams, Wilmington, for defendants.

SEITZ, Chancellor:

The petitioner Herman Knaust has applied for a summary order for the election of directors of Farm Industries, Inc., a Delaware corporation. He alleges that he owns a majority of the outstanding Class A and Class B common stock of the corporation and that together with his immediate family he owns 73% of all the issued and outstanding stock. He further alleges that the annual meeting of stockholders which should have been held, according to the...

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