But, I feel obligated to weigh in on Adams v. Phoenix.
For anyone who did not want to grant the preliminary injunction, here's
a question. How will you put Humpty Dumpty back together, if the
plaintiff later prevails on the merits, but you have allowed the
majority stockholder to squeeze out the minority stockholders
beforehand.
By the time the case is resolved, Phoenix Motors could be in pieces and
parts, with major elements divested, reconstituted, sliced, diced and
blended. Or, the egomaniacal sole stockholder may have issued $100
gazillion in junk bonds to support a buying spree in non-related
businesses to mismanage.
For a very well-reasoned and temperate perspective on this case, I think
the dissent in the Garden State Division, Seton Hall, made sense.
Gene Pawlowski
-- MZ