US SUPREME COURT DECISIONS

A stockholder of a corporation, in order to protect its rights and property against the threatened action of a third party, filed his bill against the latter and the corporation alleging, inter alia, that the directors, although thereunto requested, had neglected and refused to institute proceedings. Held that he must show a clear case of such absolute and unjustifiable neglect and refusal of the directors to act as would lead to his irreparable injury should he not be permitted to bring the suit. Hawes v. Oakland, 104 U. S. 450, cited upon this point and approved.

The facts are stated in the opinion of the Court. chanrobles.com-redchanrobles.com-red

Page 106 U. S. 538