Hoffman v. Abbott

Plaintiff, a stockholder of the General Electric Company, brings this derivative action on its behalf against a number of present directors and officers and former directors of the company for losses and damages claimed to have been sustained by the company and one of its subsidiaries, Carboloy Company, Inc., as a result of the alleged unlawful and wrongful acts of the individual defendants. The motion is to dismiss the complaint on the ground of insufficiency, the defendants claiming that no facts are alleged showing illegality of conduct, breach of fiduciary duty, waste of assets or damage…