Carper v. Frost Oil Co.

This is a suit in equity to establish a constructive trust and for an accounting. It was brought by two stockholders of The Western Oil Fields Corporation, suing individually and as stockholders of the corporation on behalf of themselves and others similarly situated. The cause of action, if any, alleged in the complaint is one existing in favor of the corporation. The defendants are, or were, certain directors of the corporation, and others. Judgment was for defendants, and plaintiffs bring the cause here for review.

The trial court held, from the evidence, that no cause of action existed in…