In Ironite Products V

In Ironite Products v. Samuels, where a major shareholder (Samuels) of Ironite sued, contending the bylaws had been violated, the appeals court held that:

A) the directors committed fraud and would be removed from the board and a new board would be elected under court supervision
B) while there was no fraud, the directors did not follow the bylaws properly, so the changes made to the corporation would have to be reconsidered
C) the bylaws had been violated, so Samuels was due full fair market value of his shares
D) the directors violated their duty to the corporation so would be removed from control and Samuels would take control of the company
E) none of the other choices