Case ID: ny_243/html/0525-01.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Marc Klaw, Suing on Behalf of Himself and Others, Stockholders of Forsix Theatre Company, Appellant, v. Abraham L. Erlanger et al., Respondents.
    (Argued May 4, 1926;
    decided May 25, 1926.)
    
      Corporations — officers — directors ■— stockholder’s action to compel president and director of corporation to account for destroyed assets.
    
    
      Klaw v. Erlanger, 215 App. Div. 702, affirmed.
    Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered November 24, 1925, unanimously affirming a judgment in favor of defendants entered upon a dismissal of the complaint by the court on trial at Special Term. The action was brought by the plaintiff as a stockholder of the respondent company to compel the individual respondent, Erlanger, the president and a director of the said company, to account to the corporation for his acts whereby, it was alleged, a valuable lease, the sole asset of the company, was destroyed.
    Judgment affirmed, with costs;
    
      Clarence J. Shearn for appellant.
    
      Nathan L. Miller and Roscoe T. Holt for respondent.
   no opinion.

• Concur: His cock, Ch. J., Cardozo, Pound, McLaughlin, Crane and Lehman, JJ. Absent: Andrews, J.