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LEFTCOURT REALTY CORPORATION v. SANDS

113 A.2d 428 (1955)

LEFTCOURT REALTY CORPORATION, Plaintiff, v. Harry SANDS and Irene Sands, Defendants.

Court of Chancery of Delaware, New Castle.

April 21, 1955.

Attorney(s) appearing for the Case

Richard F. Corroon (of Berl, Potter & Anderson), Wilmington, and Charles L. MacDonald (of Lewis & MacDonald), New York City, for plaintiff.

H. James Conaway, Jr. (of Morris, James, Hitchens), Wilmington, and Manuel Maxwell, New York City, for defendants.

MARVEL, Vice Chancellor.

Plaintiff, a Delaware corporation, charges in its complaint that the defendant, Harry Sands, while one of plaintiff's directors, violated his fiduciary duty to plaintiff by secretly sharing in profits realized through the purchase of real estate from plaintiff's wholly owned subsidiary. Mrs. Sands, the other defendant, is charged with conspiring with her husband in the alleged breach of his fiduciary duty to plaintiff. The complaint seeks...

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