Futernick v. Statler Builders, Inc.

While there are other theories referred to in the pleadings and briefs, basically this is a stockholders’ derivative suit on behalf of 1 corporation against another. The stockholders’ claim is that the latter corporation is fraudulently •withholding funds properly due and owing to the former corporation.

This suit was brought by plaintiff Futernick on behalf of Concord Builders, Inc. The record discloses that Futernick was owner of 1/3 of the stock of Concord Builders, Inc., and that the individual defendants herein, Faggen and Tutnick, were owners of the other 2/3. Plaintiff claims the other…