Legal Opinion
Schoenbaum v. Firstbrook
Court of Appeals for the Second Circuit
Decided May 29, 1968No. 160, Docket 31408PublishedCited by 147 opinions
1Opinion of the Court
LUMBARD, Chief Judge:
Plaintiff, an American shareholder of Banff Oil Ltd., a Canadian corporation, brought this shareholder derivative action to recover under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78j(b) and Rule 10b-5, 17 CFR § 240.10b-5 (1967), for damages to the corporation resulting from the sales, in Canada, of Banff treasury stock to defendants Aquitaine of Canada, Ltd., and Paribas Corporation. Plaintiff alleged that the defendant corporations and Banff’s directors, who are the individual defendants in this action, conspired to defraud Banff by making Banff…
2Cases cited27 opinions
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- United States v. Aluminum Co. of AmericaCourt of Appeals for the Second Circuit · 1945
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- Strassheim v. DailySupreme Court of the United States · 1911
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3Cited by147 opinions
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