Landise v. Mauro, 927 A.2d 1026 (2007)

Citation: Landise v. Mauro, 927 A.2d 1026 (2007)
Parent Document: Landise v. Mauro, 927 A.2d 1026 (2007)
Jurisdiction: DC (municipal)
Effective Date: 2007-05-31
Original Source: https://www.courtlistener.com/opinion/5143156/landise-v-mauro/ ↗

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Cohen was a stockholder’s derivative action against a corporation and certain of its individual directors and managers. 337 U.S. at 543, 69 S.Ct. 1221. At issue was a district court’s refusal to apply a New Jersey statute that required plaintiffs to post security, including attorney’s fees, before they could bring an action. Id. The corporate defendant’s bylaws provided that the corporation might be required to *1030indemnify the individual defendants if the plaintiffs claim was unsuccessful. Id. at 545, 69 S.Ct. 1221. Thus, to ensure its own indemnification, the corporate defendant appealed the district court’s decision and argued that the plaintiff should be required to post a bond under the state statute. Id.

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