Lippitt v. Ashley
Supreme Court of Connecticut
January Term, 1915. Actions against directors •oL a savings-bank to recover losses sustained by the bank through the long-continued defalcations of its treasurer, alleged to have occurred because of the negligence and lack of supervision of the defendants, and also for negligently and illegally declaring and paying. dividends which had not been earned, brought to and tried by the Superior Court in Hartford County, Bennett, J.; facts found and judgment rendered for the…
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January Term, 1915. Actions against directors •oL a savings-bank to recover losses sustained by the bank through the long-continued defalcations of its treasurer, alleged to have occurred because of the negligence and lack of supervision of the defendants, and also for negligently and illegally declaring and paying. dividends which had not been earned, brought to and tried by the Superior Court in Hartford County, Bennett, J.; facts found and judgment rendered for the defendants in each case, and appeal by the plaintiffs. These four actions are brought by Hie receivers of the Windsor Locks…
1Opinion of the Court
Before taking up the merits of the appeal, there are some preliminary matters which may be briefly disposed of. The plaintiffs claim not only to recover from the defendants as directors, on the ground of neglect of duties as such directors, the amounts embezzled by Converse and the amount of dividends paid out in excess of net profits during his term of office, but they also claim, in case No. 534, to recover from the defendant Cleveland, in his capacity as treasurer, the amounts of dividends paid out in excess of net profits during Cleveland's term of office. We do not think the complaint is…
2Cases cited11 opinions
- Martin v. WebbSupreme Court of the United States · 1884
- Wallace v. Lincoln Savings BankTennessee Supreme Court · 1891
- Bank of Hartford County v. WatermanSupreme Court of Connecticut · 1857
- Greenfield Savings Bank v. AbercrombieMassachusetts Supreme Judicial Court · 1912
- Lowndes v. City National BankSupreme Court of Connecticut · 1909
6 more not listed; retrieve them via the Exa API.
3Cited by48 opinions
- Connell v. ColwellSupreme Court of Connecticut · 1990
- Coburn v. Lenox Homes, Inc.Supreme Court of Connecticut · 1982
- Bovay v. H. M. Byllesby & Co.Supreme Court of Delaware · 1944
- Francis v. United Jersey BankSupreme Court of New Jersey · 1981
- Bound Brook Ass'n v. City of NorwalkSupreme Court of Connecticut · 1986
43 more not listed; retrieve them via the Exa API.