Litwin v. Allen

This application presents an unusual situation. The defendant seeks to examine two witnesses whose testimony it is alleged can prove that the plaintiff was neither the owner of record nor the equitable owner of stock at the commencement of the action, and therefore under the law has not the legal capacity to sue. While the law is well settled that a stockholder need not be the owner of record to institute the action, he must at least be the equitable owner. The plaintiff alleges she is the owner of said stocks. The defendant states that the plaintiff is not the owner either of record or…