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BORDEN v. GUTHRIE

23 A.D.2d 313 (1965)

Leon E. Borden, Respondent-Appellant, v. W. D. Guthrie et al., Defendants, and Roosevelt Raceway, Inc., Respondent, and Harry G. Starr et al., Appellants-Respondents

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

June 17, 1965.

Attorney(s) appearing for the Case

Edmund H. H. Caddy of counsel (Caddy & Shepard, attorneys), for Harry G. Starr, appellant-respondent.

David W. Peck of counsel (Lester Kissel, Marvin Schwartz and Henry V. Kensing with him on the brief; Meyer, Kissel, Matz & Seward, attorneys), for J. Alfred Valentine, appellant-respondent.

Milton Paulson for respondent-appellant.

Samuel I. Rosenman of counsel (Max Freund, Stuart Robinowitz and Joseph Zuckerman with him on the brief; Rosenman Colin Kaye Petschek & Freund, attorneys), for respondent.

VALENTE and STEVENS, JJ., concur with McNALLY, J.; BREITEL, J. P., concurs in opinion.

McNALLY, J.

In a stockholder's derivative action, defendants-appellants-respondents J. Alfred Valentine and Harry G. Starr have been cast in judgment, after a nonjury trial, for $371,495.45 and $215,652.83, respectively.

The issue presented is whether Valentine and Starr, officers, directors and the largest stockholders of defendant-respondent Roosevelt Raceway, Inc. (Roosevelt), violated any fiduciary...

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