Albert v. Black Motor Company

CLAY, Commissioner.

This suit was instituted by a stockholder of Black Motor Company for and on behalf of such company and its other stockholders. Damages were sought against five of its directors for profits allegedly realized on the sale of stock owned by it in another corporation. The claim was dismissed as to four of the directors, and appellant Albert appeals from a judgment against him in the sum of $192,368.

The claim is founded on the breach of fiduciary duty, fraud and concealment. The basic facts are not in dispute.

Black Motor Company (hereafter referred to as “Black”) was…