Jno. Dunlop's Sons, Inc. v. Dunlop

The action is brought in equity by the plaintiff corporation against the defendant directors thereof for an accounting to recover alleged wrongful profits. The complaint charges that the defendants, while officers and directors of plaintiff corporation, conspired to defraud the latter; that in furtherance of said conspiracy, one of the defendants entered into a contract in December, 1930, to purchase a certain plant for the sum of $80,000 which was to be used by the plaintiff corporation for the processing of silk; that thereafter and in June, 1931, the defendants sold said plant to the…