COHEN v. BENEFICIAL INDUSTRIAL LOAN CORPORATION

Civ. No. 3033.

69 F.Supp. 297 (1946)

COHEN (COHEN, Intervener) v. BENEFICIAL INDUSTRIAL LOAN CORPORATION et al.

District Court, D. New Jersey.

December 18, 1946.


Attorney(s) appearing for the Case

Wall, Haight, Carey & Hartpence, of Jersey City (Edward J. O'Mara, of Jersey City, N. J., of counsel), for plaintiff.

Charles Hershenstein, of Jersey City, N. J., for intervener.

Pitney, Hardin, Ward & Brennan, of Newark, N. J. (John Milton, of Jersey City, N. J., of counsel), for individual defendants, O. W. Caspersen, John Budd Smith, Roy E. Tucker, Everett T. Felter, Jackson R. Collins, and C. V. Smith.

Hood, Lafferty & Emerson, of Newark, N. J., for defendant Beneficial Loan Corporation.


MEANEY, District Judge.

This action, a stockholder's derivative suit, was instituted by Sol Cohen in 1943, as the holder of 100 shares of Common Stock which had been acquired by purchase in 1937, and seeks the appointment of a receiver and an accounting for funds and assets which it is alleged the individual defendants fraudulently diverted and appropriated to their own use.

David F. Cohen, as holder of 150 shares of the corporation's common stock, intervened...

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