Klotz v. Pan-American Match Co.
Massachusetts Supreme Judicial Court
Petition, filed on July 2, 1914, by the holder of one hundred and seventy-six shares of the common stock of the Pan-American Match Company, a corporation organized under the laws of the State of Delaware and having its usual place of business and its principal office and manufacturing plant at Worcester in this Commonwealth, against that corporation and three individual respondents, Sterling, Buxton and Tatman, respectively its president, treasurer and secretary, for a writ…
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Petition, filed on July 2, 1914, by the holder of one hundred and seventy-six shares of the common stock of the Pan-American Match Company, a corporation organized under the laws of the State of Delaware and having its usual place of business and its principal office and manufacturing plant at Worcester in this Commonwealth, against that corporation and three individual respondents, Sterling, Buxton and Tatman, respectively its president, treasurer and secretary, for a writ of mandamus commanding the respondents to produce for examination and permit the petitioner and his agents and attorneys…
1Opinion of the CourtDe Courcy, J.
The common law right of a stockholder to" inspect the books of a corporation at seasonable times and for proper purposes is well established. See cases cited in notes, 45 L; R. A. 446 ; 20 L. R. A. (N. S.) 185; Ann. Cas. 1913 E 173. The right is based on the stockholder’s interest in the assets and business of the corporation. It was said by Knowlton, C. J., in Varney v. Baker, 194 Mass. 239, 240: “The stockholders of a corporation are the equitable owners of its assets, and the officers act in a fiduciary relation as agents of the corporation and of the stockholders. They should be ready to…
2Cases cited9 opinions
- Harding v. American Glucose Co.Illinois Supreme Court · 1899
- Richardson v. Clinton Wall Trunk Manufacturing Co.Massachusetts Supreme Judicial Court · 1902
- Varney v. BakerMassachusetts Supreme Judicial Court · 1907
- Greene v. Mayor of FitchburgMassachusetts Supreme Judicial Court · 1914
- Andrews v. Mines Corp.Massachusetts Supreme Judicial Court · 1910
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3Cited by10 opinions
- Farmers' Loan & Trust Co. v. PiersonNew York Supreme Court · 1927
- Leventhal v. Atlantic Finance Corp.Massachusetts Supreme Judicial Court · 1944
- Donaldson v. Boston Herald-Traveler Corp.Massachusetts Supreme Judicial Court · 1964
- Bradbury v. Central Vermont Railway, Inc.Massachusetts Supreme Judicial Court · 1938
- State ex rel. Charvat v. SaglNebraska Supreme Court · 1930
5 more not listed; retrieve them via the Exa API.