New York Court of Appeals February 13, 1929 (Matter of Silberkraus)

lead-opinion

O’Brien, J.

Appellants are the holders of a small minority of shares of the second preferred stock of Schaffer Stores Company, Inc. They claim that the preferential right of such shares has been altered by the amended certificate of incorporation which, on March 31, 1926, over their objection, was authorized by a majority of more than two-thirds.