Myers v. Occidental Oil Corp.

MORRIS, District Judge.

Robert R. Myers, Jr., and Charles W. Myers bring this suit in equity against Occidental Oil Corporation, a Delaware corporation, and seven individuals holding the majority of its capital stock, five of whom constitute a majority of its directors. The complainants are stockholders of the corporate defendant, and sue “in their own right and for the benefit of all other shareholders of the defendant Occidental Oil Corporation, who may become parties "plaintiff, in respect to the matters and things” set forth in the bill. The bill alleges insolvency of the corporate…