Question
The resolutions were approved by stockholders representing 95% of the total outstanding capital stock. The sole dissenter was Mar Rokas who owned 5% of the
The resolutions were approved by stockholders representing 95% of the total outstanding capital stock. The sole dissenter was Mar Rokas who owned 5% of the stock. The stockholders of Liberty Party Corporation approved two resolutions in a special stockholders' meeting: 1. Resolution increasing the authorized capital stock of the corporation; and 2. Resolution authorizing the Board of Directors to issue, for cash payment, the new shares from the proposed capital stock increase in favor of outside investors who are nonstockholders. Are the resolutions binding on Mar Rokas, a sole dissenting stockholder, on the corporation and its stockholders?
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