Norte & Co. v. Krock

SWEENEY, Chief Judge.

This is a stockholders’ derivative action brought on behalf of Defiance Industries, Inc., an Ohio corporation (hereinafter, Defiance). Jurisdiction is based on diversity of citizenship, 28 U.S.C. § 1332.

The complaint alleges that the defendant Krock, who became a director of Defiance about June *20, 1962, and two ■other directors, Robert L. Huffines and Victor Muscat1 dominated and controlled the business, policies and affairs of Defiance during the period in issue—1962. They “and their associates also controlled and largely owned Industrial and Insurance Enterprises, Inc.”…