Legal Opinion
Independent Investor Protective League v. Time, Inc.
New York Court of Appeals
Decided May 8, 1980PublishedCited by 54 opinions
1Opinion of the Court
OPINION OF THE COURT
Chief Judge Cooke.
It is determined here that a shareholder derivative action may be maintained even though commenced after the subject corporation has effected a dissolution and distributed its assets.
This derivative suit, brought in the name and on behalf of Sterling Communications, Inc., was commenced by plaintiffs against defendants, Time, Inc., and the officers and directors of Sterling. The thrust of the litigation is directed at the relationship of Time and Sterling. Beginning in 1965, Time made investments in Sterling and by 1973 Time played a dominant role in the…
2Cases cited8 opinions
- Hawes v. OaklandSupreme Court of the United States · 1882
- Tenney v. RosenthalNew York Court of Appeals · 1959
- Myer v. MyerNew York Court of Appeals · 1947
- Hanna v. . LyonNew York Court of Appeals · 1904
- Shayne v. . Evening Post Publishing Co.New York Court of Appeals · 1901
3 more not listed; retrieve them via the Exa API.
3Cited by54 opinions
- Harry Lewis v. Earle A. Chiles, Howard Burnett, Virgil Campbell, Earl M. Chiles, Cyril K. GreenCourt of Appeals for the Ninth Circuit · 1983
- Favila v. Katten Muchin Rosenman LLPCalifornia Court of Appeal · 2010
- Linzer v. EMI Blackwood Music, Inc.District Court, S.D. New York · 1995
- Breed v. BartonNew York Court of Appeals · 1981
- In Re Cedar Tide Corporation, Debtor. Cedar Tide Corporation v. Chandler's Cove Inn, Ltd.Court of Appeals for the Second Circuit · 1988
49 more not listed; retrieve them via the Exa API.