Arnstein v. Bethlehem Steel Corporation

GALSTON, District Judge.

This action was originally brought in the Supreme Court of the state of New York, Kings county, and was removed to this court by the defendant Mackall, on the ground of diversity of citizenship. The action is derivative, brought by a stockholder of the Bethlehem Steel Corporation of New Jersey for the benefit of the corporation. Acts of misfeasance and nonfeasance by the individual defendants are alleged as wrongs against the corporation. An accounting is sought from these defendants and a decree ordering payment to the defendant company of the sums found due.

The…