Coronado Development Corp. v. Millikin

This is an action at law by a stockholder suing in its own right to recover damages resulting from a depreciation in the market value of the shares owned by it which is alleged to have been caused by acts of the defendants performed pursuant to a conspiracy among them to depreciate the stock in order to buy it in at a price below its intrinsic value. The defendant Millikin is alleged to have been and to be an officer and director of the corporation the stock of which is claimed to have been so depreciated. It is not alleged that the defendants Schwimmer and Parlin are or ever were in any way…