Horowitz ex rel. Meridian 17 Corp. v. United Investors Corp.

PEARSON, Chief Judge.

Harry Horowitz filed a complaint on behalf of the Meridian 17 Corporation in which he claimed to be a fifty per cent stockholder. In the complaint he attempted to establish certain rights in the corporation, including the right to the remedy of specific performance of .a contract to lease land located in Dade County, Florida. He appeals from a final judgment which dismissed his stockholder’s derivative action upon the ground that he was barred by the doctrine of res judicata because of a judgment of a court of the State of New York. We reverse upon a holding that the…