Jones v. Pearl Mining Co.
Supreme Court of Colorado
Error to the District Court of Arapahoe County. This is an action brought by the plaintiff, who sues for himself and on behalf of all other'stockholders similarly situated who may wish to join. The defendants 'are The Pearl Mining Company, and seven others, who are alleged to be stockholders and directors of the company. The action was originally commenced by Sarah F. Cooper, administratrix of the estate of Isaac Cooper, deceased.
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Error to the District Court of Arapahoe County. This is an action brought by the plaintiff, who sues for himself and on behalf of all other'stockholders similarly situated who may wish to join. The defendants 'are The Pearl Mining Company, and seven others, who are alleged to be stockholders and directors of the company. The action was originally commenced by Sarah F. Cooper, administratrix of the estate of Isaac Cooper, deceased. Afterwards, the present plaintiff, James A. Jones, was appointed administrator in lieu of Sarah F. Cooper, and duly substituted for the administratrix as plaintiff.…
1Opinion of the Court
Chief Jhstioe Hayt
delivered the opinion of the court.
The right of stockholders under certain conditions to maintain a suit in equity against the company and its board of directors is now universally recognized. The conditions have been stated in various forms by the courts, but we think they are all comprehended in the simple statement that such a suit may be maintained whenever it appears that otherwise there will be a failure of justice. Hawes v. Oakland, 104 U. S. 450; Miller et al. v. Murray, 17 Colo. 408; Pomeroy’s Equity Jurisprudence, vol. 3, secs. 1094, 1095.
Tested by this rule, the…
2Cases cited7 opinions
- Hawes v. OaklandSupreme Court of the United States · 1882
- Reichwald v. Commercial Hotel Co.Illinois Supreme Court · 1883
- Miller v. MurraySupreme Court of Colorado · 1892
- Miller v. EwerSupreme Judicial Court of Maine · 1847
- Smith v. Silver Valley Mining Co.Court of Appeals of Maryland · 1885
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Morgan v. KingSupreme Court of Colorado · 1900
- National Ben. Life Ins. Co. v. Shaw-Walker Co.Court of Appeals for the D.C. Circuit · 1940
- Tampa Water Works Co. v. WoodsSupreme Court of Florida · 1929
- People ex rel. Daniels v. District Court of City of DenverSupreme Court of Colorado · 1905
- Mitchell v. KnottSupreme Court of Colorado · 1908
4 more not listed; retrieve them via the Exa API.