HON. JUSTICE ADAMU JAURO, J.C.A. (Delivering the Leading Judgment): This is an appeal against the ruling of the Federal High Court Lagos, per Ajakaiye J, delivered on 16th December 2008, which disallowed a notice of discontinuance filed by five out of the twelve plaintiffs in suit No. FHC/L/CS/304/2002 pending before the court.
The facts giving rise to this appeal can be briefly summarized thus: The plaintiffs/respondents instituted the action in the court below against the 1st defendant/appellant company, three of its directors and the company secretary.
The reliefs sought by the plaintiffs were injunctive and declaratory orders in relation to the management of the 1st defendant company and compliance with the provisions of the Companies and Allied Matters Act 1990. The case was assigned to Kafarati, J and on his transfer; it was reassigned to commence de novo before Ajakaiyo, J. Before the commencement of the trial de novo, five out of the twelve plaintiffs filed a notice of discon…