Rogers v. American Can Co.

FORMAN, Circuit Judge.

This is a stockholder’s derivative action brought by Alexander Rogers, as plaintiff in the United States District Court for the District of New Jersey for himself and other similarly situated stockholders of Metal & Thermit Corporation (M & T), a New Jersey corporation, on behalf of that corporation against American Can Company (Can-co), likewise a New Jersey corporation, eight individuals,1 Charles J. Beasley, . Robert G. Fuller, H. E. Martin, Cornelius W. Middleton, William P. Palmer, Walton S. Smith, William C. Stolk and Russell C. Taylor, who, with four others,…