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STECKLER v. PENNROAD CORPORATION

No. 368.

44 F.Supp. 800 (1942)

STECKLER v. PENNROAD CORPORATION et al.

District Court, E. D. Pennsylvania.

April 6, 1942.

Attorney(s) appearing for the Case

James Howard Molloy, of Philadelphia, Pa., for plaintiff.

R. Sturgis Ingersoll, C. B. Heiserman, and Lewis M. Stevens, all of Philadelphia, Pa., Elder W. Marshall, of Pittsburg, Pa., and Thomas Stokes and W. Heyward Myers, Jr., both of Philadelphia, Pa., for defendants.

WELSH, District Judge.

This is a stockholders' derivative action brought against the directors of the Pennroad Corporation. The bill of complaint charges that the directors caused the corporation to purchase and hold stock of the Boston & Maine Railroad in violation of the Statutes of New York and Massachusetts, and that a loss resulted therefrom for which an accounting is sought. The defendants moved for judgment on the pleadings, primarily on the ground that...

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