Kathryn R. Walton and Irmgart Van Daell Heckel v. Morgan Stanley & Co. Incorporated, and Olinkraft, Inc.

LUMBARD, Circuit Judge:

Kathryn R. Walton and Irmgart Van Daell Heckel appeal from an order entered by Judge Morris Lasker in the District Court for the Southern District of New York on October 10,1979. The district court dismissed appellants’ complaint, which they had filed derivatively on behalf of Olinkraft, Inc. and which alleged that Morgan Stanley & Co., Inc. had breached a fiduciary duty it owed to Olinkraft, because appellants had not alleged any injury to Olinkraft and therefore, according to the district court, they lacked standing. We affirm the district court’s order on a different…