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  5. 53 N.Y.2d 412 (1981)
 

PARKOFF v. GEN. TEL.

53 N.Y.2d 412 (1981)

I. David Parkoff, Appellant, v. General Telephone & Electronics Corp. et al., Respondents, et al., Defendants.

Court of Appeals of the State of New York.

Decided June 18, 1981.

Attorney(s) appearing for the Case

Theodore R. Schreier for appellant.

Peter M. Fishbein, Dean C. Rohrer, Steven J. Glassman, Myron Kirschbaum, James H. Halpin and Peter J. Dranginis, Jr., for General Telephone & Electronics Corporation and others, respondents.

Peter H. Kaminer, Stephen A. Weiner and Susan S. Egan for John H. Page and another, respondents.

Chief Judge COOKE and Judges JASEN, WACHTLER, FUCHSBERG and MEYER concur; Judge GABRIELLI taking no part.

JONES, J.

The rejection on the merits of a stockholders' derivative action brought by one shareholder on behalf of the corporation against designated directors and officers for corporate waste and breach of fiduciary duty operates as a res judicata bar to a similar action instituted by another shareholder where the first action was not collusive or fraudulent, the second shareholder was not excluded from...

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