Pelfrey Ex Rel. Associated Railway Contractors, Inc. v. Bank of Greer

Lewis, Chief Justice:

This is a corporate stockholder’s derivative action to recover damages on behalf of the corporation resulting from the alleged negligence and breach of fiduciary duty by the appellant Bank in -the handling of the corporation’s funds. This appeal is from an order of the lower court refusing the appellant Bank’s motions (1) for a compulsory reference of the issues and (2) to strike several portions of the complaint.

The first question involves a determination of whether the stockholder’s derivative action is one in equity or at law. It is undisputed that, if the action is in…