A group of shareholders of the Manganese Corporation of America sued the corporation and four officers who

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A group of shareholders of the Manganese Corporation of America sued the corporation and four officers who also were directors. The group of shareholders sought to recover damages for the corporation and all its shareholders. Evidence indicated that the officers and directors negligently had caused the corporation’s assets to drop from $400,000 to $30,000 in less than two years by being wasteful, careless, and unwise. Are the officers and directors liable for the losses? (Selheimer v. Manganese Corporation of America, 423 Pa. 563, 224 A.2d 634)

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