Court Opinion

ID: 9538916
Source: CourtListenerOpinion
Date Created: 2023-08-07 07:43:57.487784+00
Date Added: 2024-06-11T14:58:16.768748
License: Public Domain

HENRIOD, Justice
(concurring):
I concur because it appears that over an extended period of time, the stockholders had approved and ratified, by silence or otherwise, the action pursued. Otherwise I would have some reservations, since generally the directors have no authority, without stockholder consent, to set either their salaries or any kind of fringe emoluments, including bonuses for themselves at Yuletide. On the other hand, the stockholders, particularly in a sort of family hassle as appears to be the case here, silently cannot consent to a practice that invites a procedural sense of security, only suddenly, without warning, effectively to rebel without some kind of notice.