Loeb

Loeb v. Berman

Good Law
1933 Cal. LEXIS 676·217 Cal. 716·20 P.2d 685
Supreme Court of CaliforniaApril 3, 1933Docket No. L.A. 13996.California1,222 words

Opinion

Lead Opinion

Preston, J.

Motion to dismiss appeal taken from certain orders entered in the minutes of the court in the above-entitled cause on August 9, 1932. Several grounds are urged for the dismissal but, being satisfied that appellants are riot aggrieved parties within the meaning of the statute governing appeals, we rest our action upon a brief discussion of this question alone.

The Sunset Pacific Oil Company, a corporation, is the successor of the Julian Petroleum Corporation. Appellants, a portion of a group of stockholders of said corporations, urged that- a cause of action existed against Jacob Berman and a vast number of other persons, growing out of alleged issuance and sale to the public of spurious stock certificates in said Julian corporation, which produced great profit to the wrongdoers at the expense of the corporation. Accordingly, they demanded of the said renamed corporation that it sue said parties for an accounting as to these profits. The corporation at first failed to act on this demand and appellants, together with two other stockholders, on October 8, 1929, instituted on behalf of the corporation an action against said parties in the Superior Court of the County of Los Angeles…

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