Union Guardian Trust Co. v. Detroit Trust Co.

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 judicial opinion on jurisdiction must always apply retroactively because courts cannot consider the merits of a case over which they lack jurisdiction
• holding that the abuse of discretion standard “is not reserved only for purely economic [class action] litigation” and thus “will govern our review of the district court’s approval of the [desegregation] settlement proposal.”
• stating, in a shareholder case, that an attempt to intervene is not enough to confer standing and abrogating its former rule that class members and stockholders could appeal without intervening
• stating, in a shareholder case, that an attempt to intervene is not enough to confer standing and abrogating its former rule that class members and stock- holders could appeal without intervening
• dismissing appeals of unnamed members of plaintiff class and \formally overrul[ing] Asgrow Seed and any other case in this circuit . . . that permits non-parties to appeal from a decision of any kind in a class action\
• “Only when the corporation’s board defaults in its duty to protect the interests of the investors is ... [a derivative suit] permitted.”

Source: CourtListener parenthetical corpus (CC0).