White

Lake View No. 2 Oil Co. v. White

Good Law
1924 Cal. App. LEXIS 481·66 Cal. App. 677·226 P. 815
Court of Appeal of CaliforniaApril 23, 1924Civ. No. 4353.California4,245 words

Opinion

Lead Opinion

Conrey, J.

The defendant Floyd Gr White, at a time when he was the secretary and a director of the plaintiff corporation, acquired ten thousand shares of stock in the Interstate Oil Company, a corporation, and thereafter, as owner of said shares of stock, received dividends from said Interstate Oil Company. The plaintiff, claiming to be the real owner of said shares of stock, brought this action to recover the same, together with the amount of said dividends. Plaintiff alleged that said defendant acquired said property through and by reason of the connivance and assistance of defendants C. H. White and D. W. Wieker sham, who were, respectively, president and treasurer, and were directors of plaintiff, at the time when defendant Floyd G. White acquired said shares of stock, and during the time when the transactions occurred which led to his acquisition of said shares of stock; defendant Floyd G. White being during all «of that time secretary and a director of plaintiff. Plaintiff alleged that said property and profits were acquired by defendant Floyd G. White secretly, and that he and his codefendants, pursuant to agreement between themselves, concealed from plaintiff certain facts relating…

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