Legal Opinion
J. C. F. Holding Corp. v. General Gas & Electric Corp.
New York Supreme Court
Decided May 24, 1943PublishedCited by 2 opinions
1Opinion of the CourtShientag, J.
The various motions made in this case are disposed of as follows: 1. The motion to dismiss the'complaint for lack of capacity to sue. The essence of this motion is that the directors of the corporation in whose behalf this derivative stockholder’s suit is brought, acted reasonably and in the exercise of their independent, unbiaséd, business judgment in refusing to bring the action, and in resorting to another tri*285bunal to secure practical redress for the stockholders concerned.
It would serve no useful purpose to discuss in detail the involved transactions here complained of, the manipulations…
2Cases cited16 opinions
- Hawes v. OaklandSupreme Court of the United States · 1882
- United Copper Securities Co. v. Amalgamated Copper Co.Supreme Court of the United States · 1917
- Flynn v. . Brooklyn City R.R. Co.New York Court of Appeals · 1899
- Everett v. PhillipsNew York Court of Appeals · 1942
- Koral v. Savory, Inc.New York Court of Appeals · 1937
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3Cited by2 opinions
- Syracuse Television, Inc. v. Channel 9, Syracuse, Inc.New York Supreme Court · 1966
- J. C. F. Holding Corp. v. General Gas & Electric Corp.Appellate Division of the Supreme Court of the State of New York · 1944