Law 5110 Study Guide - Quiz Guide: Class Action, Menier Chocolate, Public Company
Document Summary
Allows shareholders to have approval rights (to be restrictively construed) . Macrotron: facts: german company incorporated in germany. Bod wishes to delist company"s shares = dm. Shareholders wish to be involved = influence dm (public company is stock exchange wants to turn into private company) Shareholders can do whatever they want with their shares, so it"s easy to transfer they"re right . Action is aimed at obstructing control of shareholders of the company . Company can only sue, if at gsm majority of shareholders have voted in favor of suing the company . Whatever decided by meeting can"t be removed by individuals . Menier v. hooper telegraph works: majority have fiduciary duties vis- -vis minority, thus, unfair prejudice to minority is forbidden, courts will treat it within meaning of fiduciary duty. Fraud against minority is not permitted under uk law . Arag v. garmenbeck (1997: facts: concern arag (german company) have 2 subsidiaries including dutch.
