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Business Organizations Keyed to Macey
Shlensky v. Wrigley
Citation:
237 N.E.2d 776 (1968)Facts
Plaintiff is a minority stockholder of defendant corporation, Chicago National League Ball Club. The corporation engages in the operation of Wrigley Field, the Cubs’ home park. Defendant Philip K. Wrigley is president of corporation and owner of 80% of the stock. The Cubs sustained operating losses from its direct baseball operations. Plaintiff alleges that defendant Wrigley has refused to install lights, not because of interest in the welfare of the corporation but because of his personal opinions that baseball is a daytime sport. Other defendant directors have permitted Wrigley to dominate the board of directors in matters involving the installation of lights, even though they knew he was not motivated by a good faith concern as to the best interests of defendant corporation.
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