Henis v. Compania Agricola De Guatemala

This is an appeal by the plaintiffs from an order of the district court dismissing their complaint in a stockholders’ derivative action brought by them on behalf of defendant International Railways of Central America against defendant Compañía Agrícola de Guatemala. In their complaint plaintiffs allege that, they purchased their shares in International Railways in the latter part of 1951, whereas the transactions which they seek to have set aside and cancelled were entered into between Compañía Agrícola and International Railways in 1936 and shortly thereafter. The district court dismissed…