JOHNS et al. v. CHEESEMAN


457 Pa. 414 (1974)

Johns et al., Appellants, v. Cheeseman.

Supreme Court of Pennsylvania.

Reargued September 26, 1973.

July 1, 1974.


Attorney(s) appearing for the Case

William D. Sutton, with him Lee C. McCandless, Frank P. Krizner, Thorp, Reed & Armstrong, and McCandless, Chew & Krizner, for appellants.

Saul J. Bernstein, with him Willis A. MacDonald, and Bernstein and Campbell, for appellees.

Before JONES, C.J., EAGEN, O'BRIEN, POMEROY, NIX and MANDERINO, JJ.


OPINION BY MR. JUSTICE POMEROY, July 1, 1974:

The appellants are stockholders of the Community Finance Company of Butler ("Finance"), a Pennsylvania corporation engaged in the business of making small loans to consumers. They own approximately 30% of the outstanding stock. On March 8, 1971, they filed a complaint in equity, asserting a stockholders' derivative action against the corporation,1 a number of directors of the corporation, and...

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