United Copper Securities Co. v. Amalgamated Copper Co., 244 U.S. 261 (1917)

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United Copper Securities Company v.


Amalgamated Copper Company
No. 208


Argued April 24, 1917
Decided May 21, 1917
244 U.S. 261

ERROR TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT

Syllabus

The established principles limiting the right of a stockholder to sue on behalf of the corporation when it refuses to do so restated and held applicable to an action for damages based on alleged injury to the corporation through violations of the Sherman Act.

The rule which confines the individual stockholder to the equitable forum when seeking to enforce a right of the corporation applies when the cause of action arises under the Sherman Act, as in other cases. Fleitmann v. Welsbach Co., 240 U.S. 27, distinguished.

Whether or not in an action by stockholders to enforce an alleged right of their corporation this Court has power to substitute as plaintiffs persons appointed receivers of the corporation while the writ of error is pending, held that, in the circumstances stated in the opinion, such a motion was without merit in this case.

223 F. 421 affirmed.

The case is stated in the opinion.