351 F. Supp. 895 - Gadd v. Pearson’s Empirical Analysis

Citation profile

2 federal appellate · 2 district · 5 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 16 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “A Florida court has defined a derivative suit as an action in which a stockholder seeks to enforce a right of action existing in the corporation. See James Talcott, Inc. v. McDowell, Fla.App. 1962, 148 So.2d 36 . Conversely, a direct action, or as some prefer, an individual action, is a suit by a stockholder to enforce a right of action existing in him. ..... What these definitions attempt to convey is that a stockholder may bring a suit in his own right to redress an injury sustained directly by him, and which is separate and distinct from that sustained by other stockholders. If, however, the injury is primarily against the corporation, or the stockholders generally, then the cause of action is in the corporation and the individual's right to bring it is derived from the corporation.”

   1 later decision quote this exact passage · from the majority
   e.g. Alario v. Miller

2. ““A director or officer of a banking or other corporation owes a fiduciary obligation to the bank or corporation to exercise the utmost good faith in the exercise of his powers in the interests of the corporation. Equity holds him liable as a trustee to the corporation. . . . Officers and directors of banking corporations generally owe a greater duty than other corporate officers and directors.”

   1 later decision quote this exact passage · from the majority
   e.g. 436 F. Supp. 824 - First National Bank of La Marque v. Smith