Legal Opinion
Seaboard Industries, Inc. v. Monaco
Supreme Court of Pennsylvania
Decided March 18, 1971No. Appeal, 258PublishedCited by 46 opinions
1Opinion of the Court
Opinion by
Mr. Justice Roberts,
Appellant and another corporate officer were found by the chancellor to have violated their fiduciary duties of loyalty and faithfulness to the corporation they served, Seaboard Industries, Inc., by having diverted a corporate opportunity to their own personal use. They were ordered to file accountings and to return to the corporation all monies received.
Appellant filed an accounting stating he had obtained $14,400 as a result of taking advantage of the corporate opportunity. This amount was contested by the corporation. The chancellor resolved the issue by…
2Cases cited14 opinions
- Meinhard v. SalmonNew York Court of Appeals · 1928
- Guth v. Loft, Inc.Supreme Court of Delaware · 1939
- Bailey v. JacobsSupreme Court of Pennsylvania · 1936
- Lutherland, Inc. v. DahlenSupreme Court of Pennsylvania · 1947
- Porter v. HealySupreme Court of Pennsylvania · 1914
9 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- Fed. Sec. L. Rep. P 93,959 Frank Lanza, Jr. v. Drexel & Co., Theodore J. Kircher and Christie F. VitoloCourt of Appeals for the Second Circuit · 1973
- 26 Collier bankr.cas.2d 663, Bankr. L. Rep. P 74,447 in Re Allegheny International, Inc. J. Daniel SnyderCourt of Appeals for the Third Circuit · 1992
- Masinter v. Webco Co.West Virginia Supreme Court · 1980
- In re Allegheny International, Inc.Court of Appeals for the Third Circuit · 1992
- Trieweiler Ex Rel. Varsity Investments, Inc. v. SearsNebraska Supreme Court · 2004
41 more not listed; retrieve them via the Exa API.