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Piccard v. Sperry Corp.

CIRCUIT COURT OF APPEALS, SECOND CIRCUIT


January 10, 1946

JULES E. PICCARD, ON BEHALF OF HIMSELF AND FOR THE BENEFIT OF AND ON BEHALF OF THE DEFENDANT, SPERRY CORPORATION, AND ALL OTHER STOCKHOLDERS OF SAID DEFENDANT SPERRY CORPORATION, WHO MAY BE SIMILARLY SITUATED, PLAINTIFF-APPELLANT,
v.
SPERRY CORPORATION ET AL., DEFENDANTS-APPELLEES

Before SWAN, AUGUSTUS N. HAND, and CHASE, Circuit Judges.

Per Curiam.

This is a derivative action by a stockholder of the Sperry Corporation to recover from certain of the corporation's directors for breach of fiduciary duty and from other defendants who are alleged to have induced the breach and profited thereby. The case was tried to the court without a jury, and resulted in dismissal of the complaint on the ground that as to some defendants the action was barred by releases given by the corporation after a fair settlement, and as to others the action was not proved. In so far as the appeal raises questions of fact we think the findings of the trial judge are supported by the evidence; in so far as it involves questions of law we agree with his disposition of them. The judgment is affirmed on the opinion below, 48 F.Supp. 465.

19460110

© 1998 VersusLaw Inc.



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