Legal Opinion
Swinton v. W. J. Bush & Co.
New York Supreme Court
Decided February 6, 1951PublishedCited by 10 opinions
1Opinion of the CourtWalter, J.
Stockholders of a New York corporation bring this action against it to obtain a judgment directing that it payout and distribute $500,717.72 as a dividend upon its common stock. Defendant moves for an order requiring plaintiffs to give security for its expenses and to bring in a majority of defendant’s directors as parties defendant.
Whether or not such security should be required in actions of this kind is a question for the Legislature to decide. So far, section 61-b of the General Corporation Law has been made applicable only to actions instituted or maintained in the right of the…
2Cases cited19 opinions
- Jacob & Youngs, Inc. v. KentNew York Court of Appeals · 1921
- Dodge v. Ford Motor Co.Michigan Supreme Court · 1919
- Schuckman v. RubensteinCourt of Appeals for the Sixth Circuit · 1947
- Kroese v. General Steel Castings CorporationCourt of Appeals for the Third Circuit · 1950
- Mahr v. Norwich Union Fire Insurance SocietyNew York Court of Appeals · 1891
14 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Demoulas v. Demoulas Super Markets, Inc.Massachusetts Supreme Judicial Court · 1997
- Fed. Sec. L. Rep. P 90,328 in Re International Business MacHines Corporate Securities Litigation Charles Kowal, Peter R. Herold, Albert Ominsky, Douglas Ominsky, Andrew Ominsky, Steven Horowitz, Dina Horowitz, Joan Howard, Mark Gardy, M.E. Lifshitz, Wai Chinn, Alexander Sands, Donald Lewis, Bruce Murphy, Barnett Stepak, and William Steiner v. International Business MacHines Corporation and Frank A. Metz, Jr.Court of Appeals for the Second Circuit · 1998
- Gordon v. EllimanNew York Court of Appeals · 1954
- Anrig v. Ringsby UnitedCourt of Appeals for the Ninth Circuit · 1978
- Levin v. Mississippi River CorporationDistrict Court, S.D. New York · 1968
5 more not listed; retrieve them via the Exa API.