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Contracts Keyed to Whaley
White v. Fletcher/Mayo/Associates
Citation:
Supreme Court of Georgia, 1983. 251 Ga. 203, 303 S.E.2d 746.Facts
Eldridge White (Plaintiff) worked for letcher/Mayo/Associates (“FMA”- Defendant) as the senior vice-president of the Atlanta, GA office. FMA began negotiations with Doyle Dane regarding a merger. At that time, White owned 7,114 shares of FMA stock. Any FMA shareholder who voted in favor of the merger received 1.2991 Doyle Dane shares for each FMA share. White voted in favor of the merger and, following the merger, White realized $60,000 in profit. Since plaintiff was one of the highest shareholders of defendant’s company, he was asked to sign a restrictive covenant not to compete. After the merger, plaintiff was fired.
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