Investor Claims Ameritrans Made Unfair Bylaw Changes

Law360, Wilmington (July 12, 2013, 3:58 PM EDT) -- A preferred shareholder in closed-end investment company Ameritrans Capital Corp. sued the company and several of its directors Friday in Delaware Chancery Court, accusing them of changing company bylaws to limit the voice of his class of stockholders in the decision-making process.

Robert C. Ammerman argues that a change to company rules in October that requires a two-thirds majority for the board to take any action does not allow directors elected by investors in preferred stock to make any decisions without the consent of those chosen...
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