Harff v. Kerkorian

How courts have described this case

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

• “It must be recognized, however, that § 327 does not create the right to sue derivatively but rather restricts that right.”
• “no recourse” provision as an absolute defense to actions by debenture holders against directors
• “But Delaware law seems clear that stockholder status at the time of the transaction being attacked and throughout the litigation is essential.” (citing Hutchison and Heit)
• “The nature of the derivative suit is two-fold: first, it is the equivalent of a suit by the stockholders to compel the corporation to sue; and second, it is a suit by the corporation, asserted by the stockholders in its behalf, against those liable to it.”

Source: CourtListener parenthetical corpus (CC0).