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Miller v. American Telephone & Telegraph Co.
Citation:
507 F.2d 759 (1974)Facts
Plaintiffs, stockholders in American Telephone and Telegraph Company, brought a stockholders’ derivative action against AT & T and all but one of its directors. The suit centered upon the failure of AT & T to collect an outstanding debt of some $1.5 million owed to the company by the Democratic National Committee (DNC) for communications services provided by AT & T. The failure to collect was alleged to have involved a breach of the defendant directors’ duty to exercise diligence in handling the affairs of the corporation, to have resulted in affording a preference to the DNC in collection procedures in violation of the federal criminal statute.
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Topic:
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Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
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