Godley v. Crandall & Godley Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, the Crandall & Godley Company and others, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of New York qnthe 13th day of March, 1912, upon the decision of the court rendered after a trial at the New York Special Term.
1Concurrence
Laughlin, J. (concurring in part):
I concur in the views expressed by Mr. Justice Clarke, excepting on one point. I am of opinion that the directors were guilty of a breach of their trust in authorizing the disbursement of moneys of the corporation in the form of salaries or bonuses 'to employees, based solely upon the stock ownership of such employees, by which, in effect, dividends were given to such stockholders in the form of salaries, for the purpose of depriving the plaintiff from participating in dividends. It was shown by the evidence and found by the trial court that such payments, in…
2Cases cited1 opinion
- Mutual Life Insurance v. McCurdyAppellate Division of the Supreme Court of the State of New York · 1907