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United States shareholder litigationstandingunjust enrichment

Bangor Punta Operations, Inc. v. Bangor & Aroostook Railroad Co.

417 U.S. 703 (1974)
JurisdictionUnited States
CourtSupreme Court of the United States
Year1974
StatusBinding authority

Key Principle

Equitable principles bar a corporation from recovering damages for pre-acquisition mismanagement or securities violations where the real party in interest is a shareholder that bought essentially all its stock after the wrongs occurred and would reap an unjustified windfall or unjust enrichment from the recovery.

Area of Law

General

Related Cases

Klein v. Martin 607 U. S. 213 (2026)
Ellingburg v. United States 607 U.S. ___ (2026)
Inc. v. Palmquist 607 U.S. 421 (2026)

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