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Court of Appeals rules on stockholders meeting

(AP) — The Kansas Court of Appeals says MGP Ingredients in Atchison can have a stockholders meeting, which had been delayed for months by a fight between theScreen Shot 2013-10-18 at 12.37.14 PM company’s board members.

The appeals court this week lifted a stay it had placed on the stockholders meeting, effective next Tuesday. The appeals court placed the stay on the meeting so it could consider the case.

Six MGP board members and the company’s CEO, Tim Newkirk, have delayed the stockholders’ meeting as they try to sell at least part of the company.

Two other board members, Cloud Cray Jr. and Karen Seaberg, who have ties to the company’s founders, want to remove Newkirk and replace two board members. They say selling the company would not be in stockholders’ best interests.

 

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