Reid

This action sounds in fraud. It is brought by certain persons who, during a portion of the time involved herein, were stockholders of a corporation. The purpose of the action is to compel certain other persons, who were likewise stockholders and directors of the corporation, to account for alleged secret profits made by one of them in which he was aided and abetted by the other of them (although not to his profit) in the sale of certain real property belonging to the corporation.

The following appear to be the facts: The Glendale-Verdugo Land Company was a domestic corporation formed in 1910, the existence of which was continued until March 4, 1916, when its charter was forfeited for failure to pay license tax; that defendants Robinson and Vesper and plaintiff Reid were directors of the corporation at the time its charter was forfeited and had been since before November, 1913; that Vesper became president of the corporation on November 1, 1913, and continued in that office until the corporation’s demise; that Robinson was secretary of the corporation during all the period to which this controversy relates, collected the moneys coming to it, was custodian of its funds, disbursed…