Friday, March 23, 2012

Shlensky v. Wrigley case brief

Shlensky v. Wrigley (Ill.App.2d 1968)

Similar case of majority owner refusing action that shareholders feel is in their best
interest (in this case, installing lights in Wrigley Field).
Court interprets Dodge v. Ford case as requiring some fraud or breach of good faith before
courts will intervene.
Presents planning problem of how to deal with a kooky majority owner. Ideas:
o Buy-out alternative
o Require going public (through covenant)

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