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Business Associations Keyed to Bainbridge
CTS Corporation v. Dynamics Corporation of America
Citation:
481 U.S. 69 (1987)Only StudyBuddy Pro offers the complete Case Brief Anatomy*
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On March 4, 1986, the Governor of Indiana signed a revised Indiana Business Corporation Law. That law included the Control Share Acquisitions Chapter. Beginning on August 1, 1987, the Act will apply to any corporation incorporated in Indiana. Before that date, any Indiana corporation can opt into the Act by resolution of its board of directors. On March, 10, 1986, appellee Dynamics Corporation of America owned 9.6% of the common stock of appellant CTS Corporation, an Indiana corporation. Six days afters the Act went into effect, Dynamics announced a tender offer for another million shares in CTS. On March 31, Dynamics alleged in its complaint that the Act is preempted by the Williams Act and it violates the Commerce Caluse. Dynamics sought a temporary restraining order.
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