Court Opinion

ID: 9583643
Source: CourtListenerOpinion
Date Created: 2023-08-21 22:40:46.992014+00
Date Added: 2024-06-11T14:58:28.985066
License: Public Domain

Weltner, Justice,
concurring specially.
I concur in the judgment only. In this case, Mrs. Dickson is the sole stockholder who might complain of the conduct of the other stockholders. It should be noted that her complaint contained a count seeking compulsory distribution of profits as dividends. Thus, stripped of the technicalities of pleadings, Mrs. Dickson states a claim upon which relief can be granted, in the nature of a stockholder’s derivative action combined with an application to require distribution of improperly withheld dividends.
Were there more than one stockholder who might possibly make complaint, I would apply the usual requirement that relief be sought in the nature of a stockholder’s derivative action. Here, however, the grant of relief in this case does not destroy the integrity of the corporate entity, nor does it otherwise diminish traditional principles relative to the discretion of directors in the declaration of dividends.