Bown v. Ramsdell

Plaintiffs, as stockholders of the defendant Buffalo Steel Car Company, Inc. (hereinafter referred to as the car company), bring this action to recover against the individual defendants as directors for an alleged loss suffered by said corporation, due to their malfeasance, bad faith, breach of trust and negligence in the discharge of their duties in the sale of the assets of the corporation for an inadequate consideration.

The individual defendants, by their joint answer, deny the charges of malfeasance, negligence, etc., and allege that said sale Was for the best interests of the corporation…