Bangor Punta Operations, Inc. v. Bangor & Aroostook R.R

In Bangor Punta Operations, Inc. v. Bangor & Aroostook R.R., 417 U.S. 703, 94 S.Ct. 2578, 41 L.Ed.2d 418 (1974), the Court held that a corporation could not maintain an action for waste of corporate assets and mismanagement against the former owners of a corporation it had acquired at what was conceded to be a fair price.