Cashman v. Coopers and Lybrand

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• when “real damage suffered by plaintiffs *** is that *** stock becomes worthless due to *** alleged mistakes,” claim is derivative
• shareholders lacked standing to bring direct suit against accounting firm whose alleged negligence led to a decline in stock values; court reasoned that “plaintiffs allege an injury to the corporation which affects them only indirectly”
• shareholders cannot sue in their individual capacity for damages incurred by a corporation
• shareholders lacked standing to bring direct suit against accounting firm whose alleged negligence led to a decline in stock values; court reasoned that “plaintiffs allege an injury to the corporation which affects them only indirectly”

Source: CourtListener parenthetical corpus (CC0).