McCourt v. Singers-Bigger
Court of Appeals for the Eighth Circuit
Appeal from the Circuit Court of the United States for the District of Colorado. This was a suit in equity brought by Marie Antoinette Singers-Bigger, a citizen of Great Britain, as complainant, for and on behalf of the Colorado Amusement Company, a Colorado corporation of which she was a stockholder, and which had refused to bring the suit, against the defendant, the Consolidated Amusement Company, a corporation of Colorado, its officers and others, to impress certain…
Read the full summary
Appeal from the Circuit Court of the United States for the District of Colorado. This was a suit in equity brought by Marie Antoinette Singers-Bigger, a citizen of Great Britain, as complainant, for and on behalf of the Colorado Amusement Company, a Colorado corporation of which she was a stockholder, and which had refused to bring the suit, against the defendant, the Consolidated Amusement Company, a corporation of Colorado, its officers and others, to impress certain leasehold estates held by the latter corporation, with a trust in favor of the former, for an accounting concerning the…
1Opinion of the CourtAdams, Circuit Judge
*107Before disposing of the main question, a preliminary consideration of the obligations and duties imposed by law upon directors of a corporation may not be unprofitable. Whatever may be the technical relation between them and the corporation itself, its creditors, or the public, they are, in a general and universal sense, trustees for the stockholders. They are chosen to represent them in the enterprise upon which they mutually embark. Their duty is to use and employ the corporate assets and all corporate facilities and privileges, within the limits of powers conferred upon the corporation by…
2Cases cited26 opinions
- Trustees v. GreenoughSupreme Court of the United States · 1882
- Central Railroad & Banking Co. of Ga. v. PettusSupreme Court of the United States · 1885
- Hobbs v. McLeanSupreme Court of the United States · 1886
- Davis v. SchwartzSupreme Court of the United States · 1895
- Wardell v. Railroad Co.Supreme Court of the United States · 1881
21 more not listed; retrieve them via the Exa API.
3Cited by45 opinions
- Guardian Trust Co. v. Kansas City Southern Ry. Co.Court of Appeals for the Eighth Circuit · 1928
- Johnson v. UmstedCourt of Appeals for the Eighth Circuit · 1933
- Backus v. FinkelsteinDistrict Court, D. Minnesota · 1927
- Wheeler v. Abilene Nat. Bank Bldg. Co.Court of Appeals for the Eighth Circuit · 1908
- Dunnett v. ArnCourt of Appeals for the Tenth Circuit · 1934
40 more not listed; retrieve them via the Exa API.