Marcus v. Otis

RIFKIND, District Judge.

This stockholder’s derivative suit has had a long and involved history. On appeal by plaintiffs-intervenors from a judgment approving a proposed agreement of compromise, the Court of Appeals reversed and remanded for trial. It declared the amount to be paid inadequate because under both New York and Delaware law, on the evidence then before the court, the defendants were prima facie liable ■ for conversion of shares of stock owned by the beneficiary corporation. The measure of damages, it held, was’ the highest intermediate value o:f the stock from the time of its…