Court of Appeals Lifts Stay on MGPI Shareholders' Meeting

Court of Appeals Lifts Stay on MGPI Shareholders' Meeting

The Kansas Court of Appeals has lifted a stay on an annual shareholders' meeting for Atchison based MGP Ingredients Inc.
(ATCHISON, Kan.) The Kansas Court of Appeals has lifted a stay on an annual shareholders' meeting for Atchison based MGP Ingredients Inc.

The court's ruling is effective as of Oct. 22. In August, stockholders from around the country were surprised to find a stay had been placed on the annual meeting less than 24 hours before it was scheduled to convene.

Unofficial proxy votes for the meeting favored a board member change and votes in favor of several by-laws issues proposed by the Cray Group.

The only board members present for that August meeting were Cloud "Bud" Cray and Karen Seaberg, descendants of the company's founder, Clould L. Gray Sr.

Earlier this month, the Johnson County, Kan., District Court dismissed claims brought forth by MGPI against the Cray Group.

The lift of the stay is the latest in several moves by both the Cray Group and MGPI and its CEO Tim Newkirk.
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