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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Findley v. Garrett, 109 Cal. App. 2d 166 (1952)

Citation
Findley v. Garrett, 109 Cal. App. 2d 166 (1952)
Parent Document
Findley v. Garrett, 109 Cal. App. 2d 166 (1952)
Jurisdiction
California (state)
Effective Date
1952-02-08

Other Sections in This Document (69)

Full Text

708 chars
Each of the present directors of Douglas “has long had” full knowledge of the wrongs alleged in the amended complaint and has refused in bad faith to seek redress. All the present directors of Douglas have from time to time participated in, acquiesced in and consented to some or all the' wrongs alleged in the amended complaint, and by reason thereof have furthered the business of Garrett. Demand upon the stockholders of Douglas would be futile because the management of Douglas is in its board of directors; the stock of Douglas is dispersed among more than 9,000 holders throughout the United States and in foreign countries; and many shares of the stock are traded every day on several stock exchanges.