Austin v. Gardiner

This motion to dismiss the complaint is disposed of as follows: (1) Section 61 of the General Corporation Law requires that in a derivative stockholder’s action “ it must be made to appear that the plaintiff was a stockholder at the time of the transaction of which he complains * * A proper compliance with the provisions of this section requires an allegation in the complaint setting forth the date, exact or approximate, when it is claimed that the plaintiff became a stockholder. It will then become apparent from the face of the complaint itself whether and to what extent the plaintiff has…