Simon v. Weaver
Wisconsin Supreme Court
Appeal from an order of the circuit court for Sauk county: E. Ray Steveys, Circuit Judge. This is a suit in equity brought by three stockholders on behalf of the defendant the Iron King Mining Company, a corporation, to recover damages sustained by the corporation on account of the alleged fraud of the defendants, who were promoters of the corporation, and for other relief.
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Appeal from an order of the circuit court for Sauk county: E. Ray Steveys, Circuit Judge. This is a suit in equity brought by three stockholders on behalf of the defendant the Iron King Mining Company, a corporation, to recover damages sustained by the corporation on account of the alleged fraud of the defendants, who were promoters of the corporation, and for other relief. The complaint alleges that the plaintiffs are stockholders in the-defendant the Iron King Mining Company, a Wisconsin corporation ; that this action is brought by the plaintiffs on their-own behalf as stockholders of the…
1Opinion of the CourtViNJE, J.
1. This is a suit in which, the powers of a ■court of equity are invoked to right wrongs flowing from the fraudulent scheme of promoters and officers of a corporation to diminish its assets to their own profit. The complaint in .apt terms alleges that the promoters collusively and fraudulently conspired to, and actually did, without giving any equivalent therefor, deplete the treasury of the corporation ■of the various sums therein set out, and it demands that these sums be paid back by the wrongdoers into the treasury of the •corporation. Tested by the principles laid down by this •court in…
2Cases cited8 opinions
- Zinc Carbonate Co. v. First National Bank of ShullsburgWisconsin Supreme Court · 1899
- Hayward v. LessonMassachusetts Supreme Judicial Court · 1900
- Luther v. C. J. Luther Co.Wisconsin Supreme Court · 1903
- Pietsch v. MilbrathWisconsin Supreme Court · 1905
- Gager v. MarsdenWisconsin Supreme Court · 1899
3 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Carthew v. City of PlattevilleWisconsin Supreme Court · 1914
- James v. P. B. Steifer Mining Co.California Court of Appeal · 1918
- Whaling v. Stone Construction Co.Wisconsin Supreme Court · 1958
- Uihlein v. RosenbergWisconsin Supreme Court · 1949
- Burke v. Universal Granite Quarries Co.Wisconsin Supreme Court · 1923
1 more not listed; retrieve them via the Exa API.