(KAIR)--The Cray family group has made another major step towards their goal of regaining control of the company they have held for generations.
The group has announced that an order was issued Wednesday in Johnson County District Court dismissing all of the claims brought by MGP.
The court ruled that the company is not a beneficiary of, and does not have any legal protectable interest in the MGP voting trust. And, as a result, the company's purported goal of resolving these claims before holding the 2013 annual meeting of stockholders has been fulfilled.
MGP CEO Tim Newkirk was also dealt a major blow when the court ruled that he lacked standing to challenge the capacity, qualifications or decisions of the voting trust.
The Cray group said in a news release Thursday they believe that Newkirk and the Company's other directors brought this litigation solely for the purpose of entrenchment through delay of the 2013 meeting, which was meant to thwart the will of the stockholders. They call on the current leadership to cease these tactics and allow the meeting to take place as soon as possible.
The group has vowed to continue until the company holds the annual meeting, which, by law, stockholders are entitled to have. This meeting is needed so that stockholders can exercise their voting rights.
© Many Signals Communications
MOST VIEWED STORIES
Walnut Township recall coming; Friday mtg erupts in arrest
Four arrested for illegal activity on Kickapoo Reservation
Two search warrants, two Horton homes, two arrests
Atchison apt fire claim's toddler's life, injures others
Sabetha woman arrested in business burglary
Effingham teen facing child sex crimes charges
Severe storms move through NE KS
Document forgery alleged in ATCO's Walnut Township
Two Brown Co officers honored for their bravery
Whiting woman pleads to theft of fire dept. funds
Flags across KS to fly half-staff Sunday
Severe storms reported Tuesday in NE KS
Two men arrested in Jackson Co for distribute of meth
Atchison man nabbed for neighbor's 4 wheeler theft
Winning lottery ticket sold in Falls City about to expire
Meriden man bound over on rape charge
Tornado damage surveyed in NE KS
LATEST STORIES
Planned outage for Brown-Atchison Electric Tuesday
KS Courts: those affected by past cyber attack being contacted
Atchison apt fire claim's toddler's life, injures others
Falls City Education Assn awards nearly $39K in scholarships
Richardson Co Commission approves Sheriff's Dept items
Latest Brown, Doniphan Co filings
Council approves Aquatic Center hirings
Motorcyclist injured in Holt Co MO crash