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SMITH v. BROWN-BORHEK CO.

414 Pa. 325 (1964)

Smith, Appellant, v. Brown-Borhek Company.

Supreme Court of Pennsylvania.

April 21, 1964.

Attorney(s) appearing for the Case

Harry A. Dower, with him Dower, Kanehann, Huston, McDonald & Cahn, for appellant.

H.P. McFadden, with him McFadden, Riskin & Williams, for individual appellees.

William B. Joachim, Jr., and Butterfield, Joachim & Brodt, for corporate appellee.

Before BELL, C.J., MUSMANNO, COHEN, EAGEN, O'BRIEN and ROBERTS, JJ.

OPINION BY MR. CHIEF JUSTICE BELL, April 21, 1964:

Plaintiff owns 516 out of a total of 8,000 shares of stock (outstanding) in the Brown-Borhek Company. He brought this stockholder's derivative suit on October 23, 1962, to recover for the corporation $605,507, the amount of the loss allegedly resulting from negligent mismanagement by the individual defendants, who are, or were at the relevant times, officers and directors. The defendants filed an answer denying plaintiff...

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