Ainscow v. Sanitary Co. of America

The Chancellor :

The complainant sues in his derivative right as a stockholder of Sanitary Company of America. The wrong, if any, against which he complains is one that was done to the corporation. Any relief which may be afforded is in its behalf and inures to its benefit. The complainant as a stockholder is interested in the alleged wrong and in the relief only in an indirect and derivative sense. The nature of a derivative suit was commented on in Cantor, et al., v. Sachs, et al., 18 Del. Ch. 359, 162 A. 73. In a case of that type a stockholder has no right to file a bill in the…