Schwartz v. Romnes

OPINION AND ORDER

The plaintiff moves as a shareholder of American Telephone and Telegraph Company (ATT) to compel the return of $50,000.00 which New York Telephone Company (N.Y. Telephone), a wholly-owned subsidiary of ATT, contributed to “Yes for Transportation” (YFT), a not-for-profit corporation. It is admitted that the $50,000.00 was “intended for use and was used by said corporation in effectuating the corporate purpose of Yes for Transportation . . . which included support for the approval of the transportation bond issue which ap peared as a proposition on the election ballot on…