Kramer v. Metropolitan Commercial Corp.

This is a derivative stockholders’ suit. There are eleven causes of action now set forth in the second consolidated amended complaint. Each alleges a separate transaction of the purchase or sale by the subject corporation of securities which in each instance was accomplished (as claimed) for the benefit and to the profit of one or more of the individual defendants. Initially two suits had been commenced, at different times, the first known as the Hennessey action, the second as the Heyman action. The Hennessey complaint was twice amended; the Heyman complaint was not amended. The actions were…