Highland Tank & Manufacturing Co. v. Duerr

Opinion by

Mr. Justice O’Brien,

Appellant, Highland Tank and Manufacturing Company, commenced an action of assumpsit against appellee, Frank A. Duerr, alleging that appellee, as its president, treasurer, and manager, abused his authority and made improper use of corporate funds, breaching his fiduciary duties to stockholders. During the pendency of the action, appellant voluntarily terminated its action of assumpsit and instituted a suit in equity. Preliminary objections were filed by appellee and the court dismissed the action, holding that an adequate remedy existed at law. An appeal to this…