MURDOCK v. FOLLANSBEE STEEL CORP.

Nos. 11239, 11240.

213 F.2d 570 (1954)

MURDOCK v. FOLLANSBEE STEEL CORP. et al.

United States Court of Appeals, Third Circuit.

Decided June 16, 1954.

Rehearing Denied July 15, 1954.


Attorney(s) appearing for the Case

Albert I. Edelman, New York City (Schnader, Harrison, Segal & Lewis, Philadelphia, Pa., Albert I. Edelman and Werner Ilsen, New York City, on the brief), for appellant.

Sherman T. Rock, Pittsburgh, Pa. (Paul, Lawrence & Rock, Pittsburgh, Pa., on the brief), for appellees.

Before McLAUGHLIN, KALODNER and HASTIE, Circuit Judges.


KALODNER, Circuit Judge.

Is a beneficial owner of stock registered for business convenience in another's name a "holder" of such stock within the purview of a state statute requiring, in certain circumstances, posting of security for expenses in a shareholder's derivative action?

That is the primary issue of first impression, presented by this appeal.

The undisputed facts may be summarized as follows:

...

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