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SAKS v. GAMBLE

118 A.2d 793 (1955)

Judith SAKS, Plaintiff, v. Bertin C. GAMBLE, Founders Incorporated, Associates Inc., and Gamble-Skogmo, Inc., Defendants.

Court of Chancery of Delaware, New Castle.

December 13, 1955.

Attorney(s) appearing for the Case

William S. Potter and James L. Latchum of Berl, Potter & Anderson, Wilmington, and Leonard Schrieber and Sidney L. Garwin, New York City, for plaintiff.

Ernest S. Wilson of Morford & Bennethum, Wilmington, for corporate defendants.

SEITZ, Chancellor.

This is a stockholder's derivative action on behalf of Gamble-Skogmo, Inc. ("Gamble"). Plaintiff must show under our statute that she was at least a beneficial owner of Skogmo's stock at the time of the wrongs of which she complains. Other provisions of the statute are admittedly inapplicable. See 8 Del.C. § 327. Plaintiff alleges that she was a beneficial owner at the crucial dates while the corporate defendants deny it. This is the decision...

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