Legal Opinion
Farber v. Servan Land Co.
Court of Appeals for the Fifth Circuit
Decided November 30, 1981No. 79-4014PublishedCited by 10 opinions
1Opinion of the Court
TJOFLAT, Circuit Judge:
This is the second appeal of a stockholder’s derivative suit against two corporate directors for preemption of a corporate opportunity. We find that the directors vio*373lated their fiduciary duties to the corporation and that they are liable for damages. We remand the case to the district court so that damages may be assessed.
I
In 1959, Charles Serianni, a Broward County, Florida, businessman, initiated a plan to build and operate a golf course and country club near Ft. Lauderdale. With the assistance of several other investors he formed a corporation, the Servan Land…
2Cases cited20 opinions
- Guth v. Loft, Inc.Supreme Court of Delaware · 1939
- Noritake Co., Inc. v. M/v Hellenic ChampionCourt of Appeals for the Fifth Circuit · 1980
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Studiengesellschaft Kohle Mbh, as Trustee for the Max-Planck-Institut Fur Kohlenforschung v. Eastman Kodak CompanyCourt of Appeals for the Fifth Circuit · 1980
- Gentry-Futch Co. v. GentrySupreme Court of Florida · 1925
15 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Cal-Maine Foods, Inc. v. CommissionerUnited States Tax Court · 1989
- Lucas v. Bechtel Corp.Court of Appeals for the Ninth Circuit · 1986
- Stevens Ex Rel. Park View Corp. v. RichardsonAlaska Supreme Court · 1988
- Farber v. Servan Land CompanyCourt of Appeals for the Fifth Circuit · 1981
- Tropical Exploration Corp. v. McCoy (In Re McCoy)United States Bankruptcy Court, M.D. Florida · 1990
5 more not listed; retrieve them via the Exa API.