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Cesar Reyes Vs. Max Blouse 091 Phil 305

CESAR REYES, ET ALS., plaintiffs-appellants, vs. MAX BLOUSE, ET ALS., defendants-appellees.

G.R. No. L-4420 | 1952-05-19

D E C I S I O N


BAUTISTA ANGELO, J.:

This is an action instituted by the plaintiffs as minority stockholders of the Laguna Tayabas Bus Co. to restrain its Board of Directors composed of the defendants from carrying out a resolution approved by approximately 92 1/2 per cent of the stockholders in a meeting held on July 30, 1947, authorizing said Board of Directors to take the necessary steps to consolidate the properties and franchises of the Laguna Tayabas Bus Co. with those of the Batangas Transportation Co. The grounds on which plaintiffs predicate their action are:

"1. That the proposed consolidation or merger of the two companies...