Barrett v. Smith

Defendant Cedar Lake Ice & Fuel Company is a Delaware corporation licensed to do ’business in this state. It has its principal office and all of its business 'is transacted in Minneapolis. The other defendants are its directors and managing officers. Plaintiffs are minority stockholders. In this action they charge defendants, particularly defendant Smith as treasurer and general manager and defendant Ellison as president, with mismanagement and conversion of corporate funds. By the decision below plaintiffs were awarded in part for the benefit of the corporation, and denied in part, the…