Warshaw v. Calhoun

Wolcott, Chief Justice:

This is an appeal by the plaintiff from a summary judgment entered by the Chancellor for the defendants. The plaintiff brought an action as a stockholder of The Western Insurance Securities Company (“Securities”) naming as defendants Securities, The Western Casualty and Surety Company (“Casualty”) and certain of the officers and directors of both companies. The record before us consists of pleadings, depositions, answers to interrogatories, and produced documents.

Casualty was initiated in 1910 and, in 1922, the Duboc-Gordon interests acquired control of it and…