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SEABOARD INDUSTRIES, INC. v. MONACO

442 Pa. 256 (1971)

Seaboard Industries, Inc. v. Monaco, Appellant.

Supreme Court of Pennsylvania.

March 18, 1971.

Attorney(s) appearing for the Case

John Justin McCarthy, for appellant.

Ronald H. Isenberg and Bernard J. Smolens, with them Isenberg, Goldin & Blumberg, and Schnader, Harrison, Segal & Lewis, for appellee.

Before BELL, C.J., JONES, COHEN, EAGEN, O'BRIEN, ROBERTS and POMEROY, JJ.

OPINION BY MR. JUSTICE ROBERTS, March 18, 1971:

Appellant and another corporate officer were found by the chancellor to have violated their fiduciary duties of loyalty and faithfulness to the corporation they served, Seaboard Industries, Inc., by having diverted a corporate opportunity to their own personal use. They were ordered to file accountings and to return to the corporation all monies received.

Appellant filed an accounting stating he had obtained...

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