In a derivative stockholders' suit, the defendant corporation was granted an order for security for reasonable costs under the above statute containing a provision that plaintiff stockholders might move to vacate the security order upon subsequent joinder of stockholders holding 5 per cent of the outstanding shares of any class of stock of the corporation or shares having a market value in excess of $50,000. Held, two judges dissenting, order modified by deleting therefrom the provision for vacation. Baker v. Macfadden Publications, (App. Div. 1946) 59 N.Y.S. (2d) 841.
T. M. Kubiniec,
CORPORATIONS-DERIVATIVE STOCKHOLDERS' SUITS-NEW YORK GENERAL CORPORATION LAW 61b,
Mich. L. Rev.
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