Levin v. Metro-Goldwyn-Mayer, Inc. case brief summary
264 F.Supp. 797 (S.D.N.Y. 1967)
CASE FACTS
Plaintiff stockholders and defendant directors were engaged in a contest for control of defendant corporation, a motion picture producer and distributor. Plaintiffs' motion for a preliminary injunction to enjoin defendants from their current proxy solicitation methods, including having corporate employees and branch managers solicit proxies, the solicitation of proxies for defendants by an independent supporter of management, and the endorsements by actors, directors, writers and exhibitors in paid advertisements of defendants.
DISCUSSION
The court denied plaintiffs' motion, holding that the solicitation methods were not prohibited by law and that the plaintiffs had failed to show irreparable harm would result if the actions of defendants were not enjoined.
CONCLUSION
Application for preliminary injunction denied because plaintiffs failed to establish defendants' actions were prohibited by law and did not show irreparable harm would result without the injunction.
Recommended Supplements for Corporations and Business Associations Law
264 F.Supp. 797 (S.D.N.Y. 1967)
CASE SYNOPSIS
Plaintiff stockholders filed an
application for a preliminary injunction against defendant
corporation and directors as part of an action claiming improper
solicitation of proxies for the corporation's annual meeting.CASE FACTS
Plaintiff stockholders and defendant directors were engaged in a contest for control of defendant corporation, a motion picture producer and distributor. Plaintiffs' motion for a preliminary injunction to enjoin defendants from their current proxy solicitation methods, including having corporate employees and branch managers solicit proxies, the solicitation of proxies for defendants by an independent supporter of management, and the endorsements by actors, directors, writers and exhibitors in paid advertisements of defendants.
DISCUSSION
The court denied plaintiffs' motion, holding that the solicitation methods were not prohibited by law and that the plaintiffs had failed to show irreparable harm would result if the actions of defendants were not enjoined.
CONCLUSION
Application for preliminary injunction denied because plaintiffs failed to establish defendants' actions were prohibited by law and did not show irreparable harm would result without the injunction.
Recommended Supplements for Corporations and Business Associations Law
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