Tovrea Land and Cattle Company v. Linsenmeyer

BERNSTEIN, Vice Chief Justice.

The individual appellants-cross appellees, hereinafter called defendants, appeal from a judgment of the Superior Court of Maricopa County entered December 18, 1961 in ■ favor of appellees-cross appellants hereinafter called plaintiffs.

Plaintiffs, minority stockholders of Tovrea Land and Cattle Company, an Arizona corporation, filed a complaint against the corporation and these defendants as the directors thereof, on March 24, 1958. Plaintiffs charged defendants with breach of fiduciary duty, mismanagement, and ultra vires acts since 1946, and asserted that such…