Marsili v. Pacific Gas & Electric Co.

Opinion

KANE, J.

Preliminary Statement

In this appeál from a summary judgment entered against them, appellants do not claim that any issue of fact was presented below. Rather, they argue that the trial court misconstrued the law applicable to the undisputed facts of the case.

Appellants are three stockholders in respondent Pacific Gas and Electric Company (“PG&E”). The individually named respondents comprised the board of directors of PG&E at all times relevant to this action.

Appellants initiated the derivative action below in December 1971, challenging the propriety of a $10,000 contribution…