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The corporation increased its authorized capital stock but X one of the company's stockholder was not afforded the opportunity to purchase the number of shares
The corporation increased its authorized capital stock but X one of the company's stockholder was not afforded the opportunity to purchase the number of shares proportionate to his stockholding in the corporation. X later discovered that many stockholders were also denied of their pre-emptive right.
a. Can X file a representative suit in behalf of himself and the other stockholders against ABC Corporation?
b. Will your answer be the same if what has been denied is their right to vote in the election of the board of directors?
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