SCHWARTZ v. TRAVELERS HOTEL, INC.


19 A.D.2d 552 (1963)

Samuel Schwartz et al., Appellants, v. Travelers Hotel, Inc., et al., Respondents

Appellate Division of the Supreme Court of the State of New York, Second Department.

May 20, 1963


Order affirmed, with $10 costs and disbursements.

The action is based on a written agreement between the parties, dated March 19, 1956. This agreement was a stockholders' agreement and not one for a joint venture. While plaintiffs may have a stockholders' derivative action for the alleged waste and conversion by the individual defendant, plaintiffs are not entitled to any relief in this action for an accounting on the theory of breach of the fiduciary obligation arising...

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