California Court of Appeal

KLINE HAWKES CALIFORNIA SBIC, L.P. v. SUPERIOR COURT OF LOS ANGELES COUNTY (IDEALAB), B169199

In a complaint for the involuntary dissolution of a corporation, plaintiffs failed to correctly describe the equity of the corporation for purposes of Corporations Code section 1800(a)(2)(iii), and thus have not been shown to hold shares representing the requisite 33.33 percent of the corporation's equity. Remanded with directions to sustain the demurrer with leave to amend.

Appellate Information

• Decided 03/29/2004
• Published 03/29/2004

Judges

• FLIER, J.

Court

• California Court of Appeal

Counsel

• For Appellant:
  
• Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro, Louis R. Miller, Los Angeles;  Vinson & Elkins and Gary Ewell, Austin, TX, for Petitioners., Irell & Manella, Gregory R. Smith, David Siegel, Daniel P. Lefler and Charles Elder, Los Angeles, for Real Parties in Interest Idealab.


• For Appellees:
  
• No appearance by Respondent.