Continental Securities Co. v. . Belmont
New York Court of Appeals
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the second judicial department, entered April 19,' 1912, which affirmed an order of Special Term denying a motion by defendants for judgment in their favor on the pleadings. The nature of the action, the facts, so far as material, and the questions certified are stated in the opinion.
Read the full summary
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the second judicial department, entered April 19,' 1912, which affirmed an order of Special Term denying a motion by defendants for judgment in their favor on the pleadings. The nature of the action, the facts, so far as material, and the questions certified are stated in the opinion. The complaint does not comply with the rule requiring a stockholder to show with particularity adequate and sincere efforts to induce action by the board of directors and the board’s refusal to act, or, in the alternative, an…
1Opinion of the CourtChase, J.
This is a representative action derived from the Interborough Rapid Transit Company. It is brought in behalf of the plaintiffs and all others similarly interested, as stockholders of said company, against the directors of said company and said company to require said individual defendants to account to said company for fifteen thousand shares of its capital stock, alleged to have been issued fraudulently and illegally, and without any valid or adequate consideration therefor, but upon an alleged consideration that was a pretense and subterfuge and intended to cover a gift or bonus to the…
2Cases cited14 opinions
- Hawes v. OaklandSupreme Court of the United States · 1882
- Kent v. . Quicksilver Mining Co.New York Court of Appeals · 1879
- Sage v. . CulverNew York Court of Appeals · 1895
- Delaware & Hudson Co. v. Albany & Susquehanna RailroadSupreme Court of the United States · 1909
- Kley v. . HealyNew York Court of Appeals · 1891
9 more not listed; retrieve them via the Exa API.
3Cited by122 opinions
- Smith v. Van GorkomSupreme Court of Delaware · 1985
- Toebelman v. Missouri-Kansas Pipe Line Co.Court of Appeals for the Third Circuit · 1942
- Pollitz v. . Wabash R.R. Co.New York Court of Appeals · 1912
- Price v. GurneySupreme Court of the United States · 1945
- Keenan v. EshlemanSupreme Court of Delaware · 1938
117 more not listed; retrieve them via the Exa API.