Anthony, Greg, Jeff, Murray and Dorothy form a closely held…
Anthony, Greg, Jeff, Murray and Dorothy form a closely held corporation called Wiggles, Inc. Each individual has 20% of the stock. Anthony, Greg and Jeff enter into an agreement to vote their shares in order to elect each other as directors of Wiggles, Inc. for a period of 6 years. For the first 4 years of the agreement, Anthony, Greg and Jeff vote to elect Anthony, president, Greg, Chief Financial Officer, and Jeff, Secretary, However, after 4 years, Dorothy is running against Anthony for President of the corporation, and Jeff decides to vote for Dorothy. Because of Jeff’s vote, Dorothy wins. Anthony and Greg are furious and sue Jeff to force him to resign as a director. Who wins?