Pessin v. Chris-Craft Industries, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Milonas, J.
This is a shareholder derivative action for damages arising out of the alleged abuses by defendant Chris-Craft Industries, Inc., as the majority shareholder of defendant BHC Communications, Inc. (BHC), a television broadcasting company, to the detriment of BHC, its minority shareholder, Warner Communications, Inc. (WCI) and the shareholders of WCI. The issue in this case is whether the plaintiffs, who were shareholders of BHC when the action was commenced but not at the time the alleged wrongs were committed, have standing to maintain this action.
Plaintiffs…
2Cases cited8 opinions
- Babcock v. JacksonNew York Court of Appeals · 1963
- Independent Investor Protective League v. Time, Inc.New York Court of Appeals · 1980
- Myer v. MyerNew York Court of Appeals · 1947
- Stephenson v. LandeggerDistrict Court, S.D. New York · 1971
- Breswick & Co. v. Harrison-Rye Realty Corp.Appellate Division of the Supreme Court of the State of New York · 1952
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3Cited by14 opinions
- In re Arbitration between Travelers Indemnity Co. & LevyAppellate Division of the Supreme Court of the State of New York · 1993
- Webre v. SneedCourt of Appeals of Texas · 2011
- Ganzi v. GanziAppellate Division of the Supreme Court of the State of New York · 2016
- Ascot Fund Ltd. v. Ubs Painewebber, Inc.Appellate Division of the Supreme Court of the State of New York · 2006
- Culligan Soft Water Co. v. Clayton Dubilier & Rice LLCAppellate Division of the Supreme Court of the State of New York · 2014
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