AMERICAN LIFE INSURANCE COMPANY v. Powell

80 So.2d 487 (1954)

AMERICAN LIFE INSURANCE COMPANY et al.

v.

Richard H. POWELL, Jr., Ex'r et al.

6 Div. 740.

Supreme Court of Alabama.

November 11, 1954.

Rehearing Denied May 19, 1955.

Hugh A. Locke, Birmingham, Noble J. Russell, Decatur, Deramus, Hawkins, Fitts & Mullins, and Lange, Simpson, Robinson & Somerville, Birmingham, for appellants.

Wilkinson & Skinner, Birmingham, for appellees.

SIMPSON, Justice.

This is a bill by two minority stockholders (holders of about one-tenth of one per cent of the outstanding shares) of American Life Insurance Company and alleges a loss to the corporation of over a…