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Business Associations Keyed to Bainbridge
J.I. Case Co. v. Borak
Citation:
377 U.S. 426 (1964)Facts
Respondent, the owner of 2,000 shares of common stock of Case acquired prior to merger, brought this suit seeking to enjoin a proposed merger between Case and the American Tractor Corporation (ATC) on various grounds, including breach of the fiduciary duties, self-dealing, and misrepresentations. The injunction was denied and the merger was thereafter consummated. Subsequently successive complaints were filed, alleging that petitioners solicited or permitted their names to be used in the solicitation of proxies of Case stockholders for use at a special stockholders’ meeting at which the proposed merger with ATC was to be voted upon; that the proxy solicitation material so circulated was false and misleading.
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