In the case of Stewart v. Baltimore and Ohio Railroad Company, 1897, the U.S Supreme Court ruled in favor of the railroad company. The plaintiff, Mr. Stewart was a stockholder who sued for damages after an accident involving one of the company's trains resulted in loss of life and property damage. He claimed that due to negligence on part of the directors and officers in managing affairs related to safety measures, he suffered financial losses as a decrease in share value occurred following this incident. However, it was held by Justice Brewer that individual shareholders cannot sue for damages based on depreciation in share value resulting from mismanagement unless there is direct injury or fraud involved against them individually or if corporate assets are being wasted leading to insolvency which could harm their interests directly - none were proven here by Mr.Stewart.

In the dissenting opinion for Stewart v. Baltimore and Ohio Railroad Company, Justice Harlan argued that the majority's decision was inconsistent with previous rulings of the court. He contended that a railroad company should be held liable for damages caused by its negligence, even if it had not been directly involved in causing those damages. In this case, he believed that the defendant railroad company should have been held responsible for injuries sustained by an employee of a contractor hired by the company because it failed to provide safe working conditions on its premises. The justice emphasized that employers must ensure safety measures are taken to protect workers from harm while they're performing their duties - regardless of whether they are direct employees or contractors' staff members.