Steelman v. Mallory

How courts have described this case

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

• holding that a direct action is permissible when “[t]he gravamen of [plaintiffs] complaint is that the majority shareholders/directors were attempting to squeeze him out.”
• minority shareholders in closely held corporation may bring direct action when gravamen of their complaint is that majority shareholders/directors breached their fiduciary duty by attempting squeeze out
• In which the two other shareholders were usurping corporate opportunity, disproportionately harming Steelman

Source: CourtListener parenthetical corpus (CC0).