Elggren v. Woolley’s Empirical Analysis

Citation profile

4 federal appellate · 1 district · 7 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 12 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““Courts cannot sanction any act on the part of directors of corporations (who in this jurisdiction possess and exercise all the powers vested in corporations) which is not fair, just, and equitable to all of the stockholders, and that is especially true where, as in this case, the corporation is in financial difficulties. In the present age most all business enterprises are conducted and controlled by corporations through their directors and officers. If the door is once opened so that the officers who are in charge of the affairs of corporate entities can by secret agreements with creditors or with others protect their own interests to the detriment of the corporation and the stockholders, then the transaction of business by corporations will soon come to an end.””

   1 later decision quote this exact passage
   e.g. Glen Allen Mining Co. v. Park Galena Mining Co.

2. “[In an effort to assure that corporate directors’ acts are] fair, just, and equitable to all of the stockholders .. . courts have adopted and are strictly and rigidly enforcing a policy which minimizes the temptation of officers of corporations to prefer their own interests rather than those of the corporation and the stockholders.”

   1 later decision quote this exact passage
   e.g. Nicholson v. Evans