Use the two scenarios. Support your responses with appropriate cases, laws and other relevant examples by using at least one scholarly source from the Library in addition to other resources for each scenario. Cite sources in APA format
Pampered Pooches, Inc. proposes a merger with Sit Means Sit, Inc. (SMS). SMS will obtain the approval of its shareholders; and then, by operation of law, SMS shares will become shares of the surviving corporation, Pampered Pooches, Inc.
Assume that prior to the merger Paulie Smith owned 25% of SMS stock that he purchased three years before in a private placement. Smith will only own 2% of the Pampered Pooches shares and will not be an officer or director of the merged company.
Scenario 3: Shareholder Rights
Katy Kirkland, a former employee of the Sand Dune Resorts, Inc., owned 500 shares of stock (10%) in the company. Kirkland was terminated after five years of employment at Sand Dunes; however, she became part owner of Holiday Isles, Inc., a competitor of Sand Dunes. When Sand Dunes made Kirkland an offer to purchase her stocks, she requested access to Sand Dunes’ corporate books to determine the value of her 500 shares of stock. Sand Dunes refused on the basis that Kirkland was a competitor.
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