Cooke v. Odell

This is a stockholders’ suit brought by plaintiffs in their representative capacity as stockholders of State Guaranty Corporation, which was made a defendant because it refused to bring the suit. The plaintiffs recovered judgment in the corporation’s favor against defendants for alleged misappropriation of and speculations with the corporation’s funds while they were directors and officers of State Guaranty Corporation and Pacific States Auxiliary Corporation, its wholly owned subsidiary. The defendants Odell, Palch and Adams have appealed from the judgment of $2000 entered against them which…