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BANGOR PUNTA OPERATIONS, INC. v. BANGOR & A. R. CO.

No. 73-718.

417 U.S. 703 (1974)

BANGOR PUNTA OPERATIONS, INC., ET AL. v. BANGOR & AROOSTOOK RAILROAD CO. ET AL.

Supreme Court of United States.

Decided June 19, 1974.

Attorney(s) appearing for the Case

James V. Ryan argued the cause for petitioners. With him on the briefs was Roger L. Waldman.

Alan L. Lefkowitz argued the cause for respondents. With him on the brief was Edward T. Robinson.*

MR. JUSTICE POWELL delivered the opinion of the Court.

This case involves an action by a Maine railroad corporation seeking damages from its former owners for violations of federal antitrust and securities laws, applicable state statutes, and common-law principles. The complaint alleged that the former owners had engaged in various acts of corporate waste and mismanagement during the period of their control. The shareholder presently in control of the railroad acquired...

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