Barker v. Ackers

This action Avas commenced January 9, 1933, by the plaintiffs as members of a committee of noteholders allegedly owning and holding $666,000 principal sum of the Pickwick Corporation 6%% Collateral Trust Gold Notes (hereinafter referred to as the “notes”), against defendants *165as individual stockholders in the Pickwick Corporation (hereinafter referred to as the “corporation”), to recover from the defendants on their stockholders’ liability.

For a clear understanding of the issues it is necessary to epitomize the facts, from which it appears that on December 13, 1929, the directors of the…