Citations
- 231 A.D. 641
Full opinion text
Finch, J.
Plaintiffs appeal from an order dismissing the first ai.'d third causes of action of their amended complaint.
The question here presented is whether the facts therein alleged, if true, entitle the plaintiffs to equitable relief.
The action is brought by a director and minority stockholders of the defendant corporation. The complaint alleges, for a first cpiise of action, that ever since its organization in 1921 the business of the defendant corporation has been unprofitable and unsuccessful and conducted at a great loss, as a result of which its capital has be-en r ad is being impaired and its property wasted and dissipated.
,is further alleged that the corporation never has earned or paid any dividends on its common stock and is in default for more than two years in dividends on its preferred it'ock;X'that the business