Richman v. Felmus

In a stockholders’ derivative action, the appeal is from so much of an order as granted respondent’s motion to permit additional stockholders to intervene, and as vacated a previous order which required respondent to post security, without prejudice to an application to eliminate the security requirement in the event of the intervention of other stockholders whose holdings, when considered together with respondent’s holdings, would comprise at least 5% of the outstanding stock, or have a market value in excess of $50,000. Order modified to the extent of providing that only those intervenors…