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PINCUS v. MUT. ASSURANCE CO.

457 Pa. 94 (1974)

Pincus v. Mutual Assurance Co., Appellants.

Supreme Court of Pennsylvania.

July 1, 1974.

Attorney(s) appearing for the Case

H. Francis DeLone, with him Harvey Bartle, III, and Dechert, Price & Rhoads, for appellants.

Pace Reich, with him Judith Eichen and Modell, Pincus, Hahn & Reich, for appellees.

Before JONES, C.J., EAGEN O'BRIEN, ROBERTS, POMEROY, NIX and MANDERINO, JJ.

OPINION BY MR. JUSTICE NIX, July 1, 1974:

Appellees Erwin and Hinda Pincus are shareholder-policyholders in the appellant insurance company. They instituted this suit as a class action on behalf of all shareholders alleging that the company directors had wrongfully withheld some $10,000,000.00 in corporate reserves and seeking distribution of that sum to the shareholders. Appellants filed preliminary objections asserting: (1) that the trial court lacked jurisdiction...

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