In Geltman v. Levy, 11 AD2d 411 (1st Dept. 1960) stockholders of a liquidated corporation brought a suit against a third party for breach of fiduciary duty. 11 AD2d at 412. Though the Appellate Division ultimately held that the claim, as brought, was not derivative in nature, the Court explained that assuming the claim had been derivative in nature, dismissal would not have been appropriate. Id. at 413. As the Court explained, insisting on a derivative suit where the plaintiffs were the only injured parties by the wrongdoing of the defendants would "encourage circuity and compel them to follow a meaningless legal procedure in complete disregard of the realities of the situation." Id. at 414.