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DIAMOND v. OREAMUNO

29 A.D.2d 285 (1968)

Herman Diamond, Appellant, v. Walter R. Oreamuno et al., Respondents

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

February 20, 1968.

Attorney(s) appearing for the Case

Sidney B. Silverman for appellant.

Norman Moloshok of counsel (Delson & Gordon, attorneys), for respondents.

TILZER, RABIN and WITMER, JJ., concur; STEVENS, J., dissents and votes to affirm.

BOTEIN, P. J.

This is a stockholder's derivative action against the directors of Management Assistance, Inc. (MAI), a New York corporation. The primary demand of the complaint is that two of the directors, Walter R. Oreamuno and Jorge M. Gonzalez, account to MAI for profits allegedly made by them through the use of inside information in connection with sales by them of MAI stock. Similar relief is also sought against the remaining directors on the ground...

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