Hegener v. Party Tyme Products, Inc.

Order entered May 20, 1965, granting motion of defendants to vacate notices of examination, unanimously reversed, on the law and the facts, and the motion denied, with $30 costs and disbursements to appellants. The complaint in this derivative action by stockholders of Party Tyme Products, Inc. (Products) alleges improper diversion of corporate assets by the individual defendants through the medium of Party Tyme Sales, Inc. (Sales), a corporation formed tc *743act as exclusive sales agent of Products. Two defendants, who are officers and directors of Products, are respectively the treasurer and…