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David C. Lao & Jose C. Lao Vs. Dionisio C. Lao

DAVID C. LAO and JOSE C. LAO, Petitioners,versus DIONISIO C. LAO, Respondent.

G.R. No. 170585 | 2008-10-06

D E C I S I O N


REYES, R.T., J.:

IS the mere inclusion as shareholder in the General Information Sheet of a corporation sufficient proof that one is a shareholder in such corporation?

This is the main question for resolution in this petition for review on certiorari of the Amended Decision[1] of the Court of Appeals (CA) affirming the Decision[2] of the Regional Trial Court (RTC), Branch 11, Cebu City in CEB-25916-SRC.

The Facts

On October 15, 1998, petitioners David and Jose Lao filed a petition with the Securities and Exchange Commission (SEC) against respondent Dionisio Lao, president of Pacific Foundry Shop Corporation (PFSC)....