Greenebaum v. Felix Lilienthal & Co.

This appeal involves the question of the sufficiency of a complaint in a stockholder’s derivative action.

Plaintiff owned 390 shares and the defendant Felix Lilienthal, Sr., owned 610 shares of both the common and preferred stock of the company. One thousand shares of stock were issued to each class, the common stock having the voting power. Plaintiff was a director and also vice-president-secretary of the company. He was employed as general manager of the resident buying business conducted by the corporation. The other two directors were defendants Felix Lilienthal, Sr., who was president,…