Cherry v. Howell

SWAN, Circuit Judge.

This suit was begun in the Supreme Court of the State of New York, County of Queens, and removed into the court below. The plaintiffs are two out of a large number of persons who own class D bonds of Southern Guarantee Loan Company, a Georgia investment corporation. The named defendants are two of the corporation’s directors who held office during the years in which occurred the transactions complained of. Only Clark Howell was served. The suit was originally instituted as an action at law brought on behalf of the plaintiffs and all other holders of the corporation’s class…