Federal Reserve Life Insurance v. Gregory

The opinion of the court was delivered by

Dawson, J.:

This is an appeal from a judgment sustaining a demurrer to a petition in which plaintiff sought to recover a large sum of money from persons who, while they were officers of the plaintiff corporation, secretly manipulated an issue of its stock to their own profit without notice to the stockholders in general and without the knowledge of the corporation until it was advised thereof by the commissioner of insurance shortly before this action was begun.

*131To determine the propriety of the court’s ruling on the demurrer the substance of plaintiff’s…