Cates v. L. C. Sparkman & Wise County Coal Co.
Texas Supreme Court
Error from Wise. Tried below before Hon. E. E. Finer. This is a writ of error from a judgment sustaining a demurrer and exceptions to the petition brought by the plaintiff in error, a stockholder in the Wise County Coal Company, and against its officers and stockholders other than plaintiff for damages from the fraudulent mismanagement of the business of the corporation, resulting in loss and injury to plaintiff. The opinion sufficiently shows the petition and its defects.
1Opinion of the Court
Hobby, Judge.—
Applying to the petition the most liberal and reasonable construction of which its language is susceptible, there are but two aspects in which the case made by it can be properly considered. Treating it first as a suit in equity by an individual stockholder of shares in an incorporated company against the latter to recover damages for the depreciation in the value of his stock and the corporate property, occasioned by the fraudulent practices and conduct of the officers and directors (and as such it is presented by the parties; the plaintiff contending that such a suit maybe…
2Cases cited2 opinions
- Houston & T. C. R'y Co. v. HillTexas Supreme Court · 1885
- Waco Tap Railroad v. ShirleyTexas Supreme Court · 1876
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- Langston v. Eagle Publishing Co., Texas Court of Appeals, 10th District (Waco)1986
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