Chase v. Super-Cold Corp.

This is an appeal from a £< judgment of dis missal” due to the failure of plaintiffs to comply with an order requiring plaintiffs to furnish security for the reasonable expenses which might be incurred by the defendants in said action, pursuant to section 834, Corporations Code. The plaintiffs, as shareholders of The Super-Cold Corporation (hereinafter referred to as Super-Cold) instituted a derivative action against Super-Cold; Nicholas A. Kessler, an officer and director of Super-Cold; U.S. Industrial Tool Company, a corporation substantially owned by Kessler; Frederick R. Waingrow, an…