director liability under § 5239
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 206 U.S. 158 - Yates v. Jones National Bank · 1907Most cited · 204 citing opinions
Section 5239 affords the exclusive rule by which to measure the right to recover damages from directors, based upon a loss alleged to have resulted solely from the violation by such directors of a duty expressly imposed upon them by a provision of the act. ... the violation must in effect be intentional.