Legal Opinion
Glenn v. Hoteltron Systems Inc.
New York Court of Appeals
Decided October 19, 1989PublishedCited by 60 opinions
1Opinion of the Court
OPINION OF THE COURT
Chief Judge Wachtler.
These appeals involve three consolidated shareholders’ derivative actions brought pursuant to sections 626 and 720 of the Business Corporation Law on behalf of Ketek Electric Corporation. The primary issues concern the proper allocation of damages, legal expenses and attorneys’ fees in derivative suits, particularly where the injured corporation is closely held and damages awarded to the corporation ultimately would be shared by the corporate officer/shareholder responsible for the injury.
We conclude that, in accord with the general rule governing such…
2Cases cited14 opinions
- A. G. Ship Maintenance Corp. v. LezakNew York Court of Appeals · 1986
- Abrams v. DonatiNew York Court of Appeals · 1985
- Suria v. ShiffmanNew York Court of Appeals · 1986
- Hutchins v. GorlickiNew York Court of Appeals · 1984
- Carruthers v. Jack Waite Mining Co.New York Court of Appeals · 1953
9 more not listed; retrieve them via the Exa API.
3Cited by60 opinions
- Lama Holding Co. v. Smith Barney Inc.New York Court of Appeals · 1996
- Henneberry v. Sumitomo Corp. of AmericaDistrict Court, S.D. New York · 2006
- Limor v. Buerger (In Re Del-Met Corp.)United States Bankruptcy Court, M.D. Tennessee · 2005
- Yudell v. GilbertAppellate Division of the Supreme Court of the State of New York · 2012
- Bank of America Corp. v. LemgruberDistrict Court, S.D. New York · 2005
55 more not listed; retrieve them via the Exa API.