Bliss v. Omnibus Corp.

Defendants move to dismiss this representative derivative action in equity instituted by certain stockholders of the New York Transportation Corporation for the rescission of a contract of sale made on October 27,1936, between the Fifth Avenue Coach Company and The Omnibus Corporation and for an accounting. The gravamen of the complaint is the inadequacy of the consideration paid on the sale. There are five grounds upon which the motion is based: (1) A prior action between the same parties seeking identical equitable relief was dismissed by an order entered in this court on June 21, 1936, for…