Fendelman v. Fenco Handbag Manufacturing Co.

HENLEY, Judge.

This is a suit in equity to recover for the benefit of a corporation alleged excessive compensation paid to its officers, who, as directors of the corporation, determined and fixed their own compensation. Plain-iffs appeal from a decree in favor of the individual defendants.

The Fenco Handbag Manufacturing Company (hereinafter Fenco), nominal defendant, was organized as a corporation in February, 1961, by Erwin Fendelman, Ann Wittner Lazaroff, Meyer Lazaroff and Norman Rosenblum. Its business is the manufacture of-women’s handbags for sale at wholesale. Plaintiff Rose Fendelman…