Phoenix Airline Services, Inc. v. Metro Airlines, Inc.

How courts have described this case

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

• noting that application of joint and several liability “would appear to be of doubtful applicability where the sole purpose of the award is to prevent unjust enrichment rather than to compensate a claimant for actual loss”
• in derivative action, shareholder sues on behalf of corporation and any damages recovered are paid to corporation
• breaches of fiduciary duty are generally causes of action belonging to the corporation and may be asserted by a shareholder only in a derivative action
• breach of fiduciary duties and usurpation of corporate opportunities resulted in injury to the corporation and plaintiff stockholder could not bring individual action
• “The general rule is that actions for fiduciary duties are to be brought in derivative suits.”
• claims of breach of fiduciary duties belong to the corporation, not to the various shareholders

Source: CourtListener parenthetical corpus (CC0).