Los Angeles Investment Securities Corp. v. Joslyn

The plaintiff is the owner and holder of bonds issued by a California corporation of which .the defendants are stockholders. By the present action the plaintiff would enforce against each defendant a proportionate stockholder's liability based upon provisions formerly existing in the Constitution and Civil Code of California. Under such provisions of law it is claimed that each defendant herein is individually and personally liable as a stockholder for such proportion of the corporation’s debts and liabilities, contracted or incurred during the time the defendant was a stockholder, as the…