Tooley v. Donaldson, Lufkin, & Jenrette, Inc.

How courts have described this case

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

• recognizing that a contractual right against the corporation could be enforced in a direct action
• holding that whether claim is direct or derivative turns solely on who suffered the alleged harm and who would receive the benefit of any recovery
• holding that a corporate stockholder who brings a direct action “must demonstrate that the duty breached was owed to the stockholder and that he or she can prevail without showing an injury to the corporation”
• holding that Tooley “has no bearing on whether a party with its own rights as a signatory to a commercial contract may sue directly to enforce those rights”
• holding that a corporate stockholder who brings a direct action “must demon strate that the duty breached was owed to the stockholder and that he or she can prevail without showing an injury to the corporation”
• holding that a corporate stockholder who brings a direct action “must demonstrate that the duty breached was owed to the stockholder and that he or she can prevail without showing an injury to the corporation”

Source: CourtListener parenthetical corpus (CC0).