Robotham v. Prudential Insurance Co. of America
New Jersey Court of Chancery
' On motion for injunction on order to show cause. Heard on bill, affidavits and answering affidavits. The bill is filed by the complainants as stockholders of the Prudential Insurance Company of America, hereinafter termed the Prudential company, on behalf of themselves and all other stockholders who may come into the suit, and it sets forth the following ease; The Prudential company is a corporation under the laws of New Jersey, located in the city of Newark, originally…
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' On motion for injunction on order to show cause. Heard on bill, affidavits and answering affidavits. The bill is filed by the complainants as stockholders of the Prudential Insurance Company of America, hereinafter termed the Prudential company, on behalf of themselves and all other stockholders who may come into the suit, and it sets forth the following ease; The Prudential company is a corporation under the laws of New Jersey, located in the city of Newark, originally incorporated under the name of the Widows’ and Orphans’’ Friendly Society by a special act, approved April 3d, 1873. The…
1Opinion of the Court
Stevenson, V. C.
The basis of any preliminary injunction in this case must be found in some legal or equitable right of the complainants, as stockholders of the Prudential Insurance Company, to prevent their trustees, the Prudential directors, from injuring them by a violation of fiduciary duty. The interesting scheme above set forth for the exercise of all the powers of these two great corporations by a perpetual and self-perpetuating syndicate has received the approbation of the boards of directors of both companies. But no stockholder of the Fidelity company is before this court with any…
2Cases cited15 opinions
- Thomas v. Railroad Co.Supreme Court of the United States · 1880
- People ex rel. Attorney General v. Utica InsuranceNew York Supreme Court · 1818
- People ex rel. Peabody v. Chicago Gas Trust Co.Illinois Supreme Court · 1889
- Louisville & Nashville Railroad v. KentuckySupreme Court of the United States · 1896
- Bissell v. Michigan Southern & Northern Indiana Railroad CompaniesNew York Court of Appeals · 1860
10 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Hyams v. Calumet & Hecla Mining Co.Court of Appeals for the Sixth Circuit · 1915
- Solimine v. HollanderNew Jersey Court of Chancery · 1940
- Cleveland Trust Co. v. EatonOhio Supreme Court · 1970
- Daloisio v. Peninsula Land Co.New Jersey Superior Court Appellate Division · 1956
- Eliasberg v. Standard Oil Co.New Jersey Superior Court Appellate Division · 1952
21 more not listed; retrieve them via the Exa API.