Document: MBKS Company Ltd. v. Reddy, C.A. No. 1853-VCL, Lamb, V.C. (Del. Ch. Apr. 30, 2007)
The Court granted plaintiff stockholders’ motion for partial summary judgment on claims that their stock was not cancelled and that the director did not validly issue stock to himself; where the cancellation was not effected by an amendment to the certificate of incorporation of the company, and the stock was issued without consideration.