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COHEN v. BENEFICIAL LOAN CORP.

No. 442.

337 U.S. 541 (1949)

69 S.Ct. 1221

93 L.Ed. 1528

COHEN, EXECUTRIX, ET AL. v. BENEFICIAL INDUSTRIAL LOAN CORP. ET AL.

Supreme Court of United States.

Decided June 20, 1949.

Attorney(s) appearing for the Case

Charles Hershenstein and Philip B. Kurland argued the cause for petitioners in No. 442 and respondents in No. 512. With them on the brief were Edward J. O'Mara, Samuel Dreskin and David F. Cohen.

John M. Harlan argued the cause for the Beneficial Industrial Loan Corp., respondent in No. 442 and petitioner in No. 512. With him on the brief were Charles Danzig and Walter Pond.

Briefs of amici curiae in support of petitioners in No. 442 and respondents in No. 512 were filed by Julius Levy for Weinberger; and by Lewis M. Dabney, Jr.

MR. JUSTICE JACKSON delivered the opinion of the Court.

The ultimate question here is whether a federal court, having jurisdiction of a stockholder's derivative action only because the parties are of diverse citizenship, must apply a statute of the forum state which makes the plaintiff, if unsuccessful, liable for the reasonable expenses, including attorney's fees, of the defense and entitles the corporation to require security for their payment.

Petitioners...

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