Jerome Sacks Et Al. v. American Fletcher

This is an appeal from an order of the Marion Circuit Court sustaining the defendants motions to dismiss and dismissing appellants second amended complaint. This Court has accepted jurisdiction of this cause by virtue of its having been transferred from the Court of Appeals with the consent of all the parties. The second amended complaint seemingly asserts a stockholders derivative action alleging deceit and misrepresentation on the part of the defendants. The principal grounds of the defendants motions to dismiss are that the receiver of the corporation involved had not properly been made a party, leave of the receivership court having been sought and denied, and that the receiver is an indispensable party to this stockholders derivative action.