Levine v. Behn

Three individuals owning a total of thirty-three shares of stock of the National City Bank of New York here seek to compel certain of its directors to repay to it $725,000, which they caused it to pay in discharge of a claim asserted against it and its president. Summary judgment was granted (169 Misc. 601; affd., 257 App. Div. 156) but afterwards reversed (282 N. Y. 120). In view of the reversal I understand that I not only may but also am required to exercise my own independent judgment and form my own conclusions with respect to the facts (Gugel v. Hiscox, 216 N. Y. 145), but that does not…