Legal Opinion · Concurrence
Nisonoff v. Irving Trust Co.
Court of Appeals for the Second Circuit
Decided December 11, 1933No. 54Published
1ConcurrenceManton, Circuit Judge
/ • s (concurring).
This stockholder seeks an injunction against the continuation of what she regards as unlawful practices by her corporation, amounting to ultra vires acts. The suit is to be distinguished from a derivative suit seeking to sue for waste or injury to the corporation. If the acts complained of are illegal, they give rise to a cause of action in favor of a shareholder. General Investment Co. v. Lake Shore & M. S. R. Co., 250 F. 160 (C. C. A. 6); Du Pont v. Northern Pac. R. Co. (C. C.) 18 F. 467; Jacobson v. Brooklyn Lumber Co., 184 N. Y. 152, 161, 76 N. E. 1075; Manderson v.…
2Cases cited20 opinions
- Union Tool Co. v. WilsonSupreme Court of the United States · 1922
- Ohio Valley Bank Co. v. MackCourt of Appeals for the Sixth Circuit · 1906
- Zabriskie v. Cleveland, Columbus, & Cincinnati RailroadSupreme Court of the United States · 1860
- Continental Insurance v. United StatesSupreme Court of the United States · 1922
- Jacobson v. . Brooklyn Lumber Co.New York Court of Appeals · 1906
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