Meyers v. Smith

The defendant Cedar Lake Ice & Fuel Company, a corporation, appeals from an order of the trial court striking out the affirmative defenses pleaded in its separate answer to plaintiff’s complaint.

The action is brought by plaintiff, a minority stockholder of the corporation, to recover for and on behalf of the corporation large sums of money claimed to have been misappropriated and wrongfully expended by the defendants Hassel M. Smith and James H. Ellison out of the funds of the corporation. These two defendants were, during the time here in question, and are now directors of the corporation,…