City Investing Co. v. Gerken

New York Supreme Court

City Investing Co. v. Gerken

122 Misc. 871

CourtNew York Supreme Court

DecidedJanuary 15, 1924

StatusPublished

Cited by1 cases

This text of 122 Misc. 871 (City Investing Co. v. Gerken) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

City Investing Co. v. Gerken, 122 Misc. 871 (N.Y. Super. Ct. 1924).

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Opinion

Proskauer, J.

Upon the reopening of this case it appears that the declaration of the improper dividend was not formally ratified at a meeting at which the defendant Gerken was present. Nevertheless, in view of his preponderant stock interest, the receipt by him as a stockholder of a substantial portion of the improper dividend, the fact that it was paid out by him and other acts of control, he must be held liable under the principle of Godley v. Crandall & Godley Co., 212 N. Y. 121, 138.

Judgment accordingly.

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Proskauer, J.

Upon the reopening of this case it appears that the declaration of the improper dividend was not formally ratified at a meeting at which the defendant Gerken was present. Nevertheless, in view of his preponderant stock interest, the receipt by him as a stockholder of a substantial portion of the improper dividend, the fact that it was paid out by him and other acts of control, he must be held liable under the principle of Godley v. Crandall & Godley Co., 212 N. Y. 121, 138.

Judgment accordingly.

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Bluebook (online)

122 Misc. 871, Counsel Stack Legal Research, https://law.counselstack.com/opinion/city-investing-co-v-gerken-nysupct-1924.

Opinion

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