THOMPSON v. BROADFOOT

No. 132, Docket 20820.

165 F.2d 744 (1948)

THOMPSON et al. v. BROADFOOT et al.

Circuit Court of Appeals, Second Circuit.

January 28, 1948.


Attorney(s) appearing for the Case

Bleakley, Platt & Walker, of New York City (William F. Bleakley and Arthur D. Brennan, both of New York City, of counsel), for Broadfoot, Carlsen, Greene, Gilbert and Pell.

Swiger, Chambers, Kelley & Harragan, of New York City (Joseph R. Kelley and Thomas F. Daly, both of New York City [Lord, Day & Lord], of New York City, of counsel), for Schwab, Armour, Lawrence Print Works, Inc., Arnold Print Works, Inc., and Aspinook Corporation.

Milton Paulson, of New York City, for appellants.

Before SWAN, CHASE and FRANK, Circuit Judges.


FRANK, Circuit Judge.

A derivative action was brought by stockholders of The Aspinook Corporation against that corporation, its directors, officers, and others. The plaintiff stockholders own less than 5% or $50,000 in market value of the company's stock. The company moved for an order requiring plaintiffs to furnish security pursuant to § 61-b of the New York General Corporation Act, Consol.Laws, c. 23. The district court made an order denying this motion, and...

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