Hechler v. Emery

This stockholder’s action was instituted against Archibald C. Emery, who was president of the defendant corporations, to compel him to account for certain acts of waste. He is the owner of the entire voting stock of the defendant United Investors Securities Corporation, which constitutes but a fraction in value of the .total stock. This corporation was made a party to the action, but, as observed in Young v. Equitable Life Assurance Society (112 App. Div. 760, 762), the fact that in a stockholder’s action against directors the corporation itself is also made a party defendant does not make it…