Balch v. Investors' Royalty Co.

FRANKLIN E. KENNAMER, District Judge.

Complainants, minority stockholders of the defendant Investors’ Royalty Company, Inc., a Delaware corporation, base their action upon alleged mismanagement of the corporate affairs by the defendant’s officers and directors. The relief sought includes the cancellation of certain stock issued to defendant Fred T. Hildt, an accounting for diverted corporate funds and profits wrongfully realized by the individual defendants in the use of corporate funds, and for the appointment of a receiver of the assets of the corporation.

The corporation was organized in…