Legal Opinion
Pittsburgh Terminal Corp. v. Baltimore & Ohio Railroad
Court of Appeals for the Sixth Circuit
Decided May 19, 1989No. 87-3678PublishedCited by 1 opinion
1Opinion of the Court
BOYCE F. MARTIN, JR., Circuit Judge.
The Pittsburgh Terminal Corporation, a minority shareholder of the Baltimore & Ohio Railroad, brought this derivative action on behalf of Baltimore & Ohio, a Maryland corporation, against defendants Baltimore & Ohio, Chesapeake & Ohio Railway, CSX Corporation, and individual officers and directors of Baltimore & Ohio and Chesapeake & Ohio, alleging a breach of fiduciary duty in Baltimore & Ohio’s sale in 1983 of its stock in the Western Maryland Railway Company to Chesapeake & Ohio for a price that was too low. Following a trial before the district court,…
2Cases cited15 opinions
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- Weinberger v. UOP, Inc.Supreme Court of Delaware · 1983
- Smith v. Van GorkomSupreme Court of Delaware · 1985
- Palmer v. Connecticut Railway & Lighting Co.Supreme Court of the United States · 1941
- David ARCHER, Plaintiff-Appellee, v. MACOMB COUNTY BANK, Defendant-AppellantCourt of Appeals for the Sixth Circuit · 1988
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3Cited by1 opinion
- Pittsburgh Terminal Corporation v. Baltimore And Ohio RailroadCourt of Appeals for the Sixth Circuit · 1989