Legal Opinion
Petty v. Bank of New Mexico Holding Co.
New Mexico Supreme Court
Decided February 19, 1990No. 18059PublishedCited by 21 opinions
1Opinion of the Court
OPINION
MONTGOMERY, Justice.
In this stockholder’s derivative suit a minority shareholder (Petty) seeks relief from officers and directors of the corporation (the Holding Company). The complaint requests a determination that funds advanced to the defendants as litigation expenses in another suit have been wrongfully diverted from the corporation and judgment for any such improper expenditures. The district court dismissed the complaint for failure to state a claim upon which relief could be granted. Petty appeals, claiming that his complaint was sufficient to state a cause of action on behalf…
2Cases cited15 opinions
- Cohen v. Beneficial Industrial Loan Corp.Supreme Court of the United States · 1949
- Schy v. Susquehanna Corp.Court of Appeals for the Seventh Circuit · 1970
- Gordon v. EllimanNew York Court of Appeals · 1954
- Charles E. Sorensen v. The Overland CorporationCourt of Appeals for the Third Circuit · 1957
- Mooney v. Willys-Overland Motors, Inc.Court of Appeals for the Third Circuit · 1953
10 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Azar v. Prudential Insurance Co. of AmericaNew Mexico Court of Appeals · 2003
- Murphree v. Federal Ins. Co.Mississippi Supreme Court · 1997
- Zamora v. St. Vincent HospitalNew Mexico Supreme Court · 2014
- Garcia v. CoffmanNew Mexico Court of Appeals · 1997
- Electro-Jet Tool & Manufacturing Co. v. City of AlbuquerqueNew Mexico Supreme Court · 1992
16 more not listed; retrieve them via the Exa API.