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Federal Courts-Appeals-Finality Of Decree Dismissing Intervenor's Claim After Trial, J. D, Mcleod S. Ed.

Michigan Law Review

Dickinson, a promoter of Petroleum, sued Lloyd, his fellow promoter, to impress an equitable lien on certain stock in Lloyd's possession. Petroleum and some of its shareholders known as the ''Rinke subscribers" intervened, seeking to have the stock issue canceled because of fraud, and to recover damages for secret profits gained through breach of fiduciary duty to the corporation. In 1947, after trial, a decree was entered. Claims of both Dickinson and Lloyd were dismissed. Judgment against them was entered in favor of the class of subscribers, the decree providing that the several claims of the individual subscribers be liquidated …