PERRY v. SHAHMOON IND.


11 Misc.2d 137 (1958)

Charles Perry, Individually and as Stockholder of Shahmoon Industries, Inc., Suing on Behalf of Himself and All Other Stockholders Similarly Situated, Plaintiff, v. Shahmoon Industries, Inc., et al., Defendants.

Supreme Court, Special Term, New York County.

February 27, 1958.


Attorney(s) appearing for the Case

John J. Burke, Jr., and Burton H. Brody for plaintiff.

Jacob Freed Adelman for Robert Salomon, defendant.

Shatzkin & Cooper for defendants.


HENRY CLAY GREENBERG, J.

Plaintiff has instituted a stockholder's derivative and representative action. Defendants have not as yet answered. At the time of the institution of the action plaintiff was the owner of 140 shares of the common stock of the corporation having a market value of $1,575. The stock ownership of the plaintiff obviously is insufficient to avoid the security requirements of section 61-b of the General Corporation Law. In order to meet...

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