Court Opinion

ID: 9583642
Source: CourtListenerOpinion
Date Created: 2023-08-21 22:40:46.987931+00
Date Added: 2024-06-11T14:58:28.984531
License: Public Domain

Smith, Justice,
concurring specially.
While I concur in the majority opinion, I write separately to emphasize that I do not join the view that the remedy approved in *776this case is available only to a sole injured shareholder. It would be a serious error to limit direct actions for recovery of misappropriated corporate funds to cases where only one shareholder is injured, or to declare flatly that such actions lie only in the context of closely held corporations. Of course, the nature of the remedy discussed by the majority makes its application more likely in these situations; but in my view a direct action should be available, where justice requires, based on a careful evaluation of the facts of each case.