General Investment Corp. v. Addinsell

Bernard Weiss, a stockholder of the General Investment Corporation, commenced this action to recover from the defendants, for the benefit of the corporation, moneys which are alleged to have been obtained wrongfully or wasted through *320corporate mismanagement. The suit, a derivative one, is based upon the theory that the board of directors, as- now constituted, failed to bring action within “ more than a reasonable time ” after plaintiff made a demand. How long a period elapsed does not appear in the complaint. There is a very grave question as to whether or not the original plaintiff alleged…