TIMKO v. TRIARSI

No. 5D04-986.

898 So.2d 89 (2005)

Mark TIMKO, Appellant, v. Onofrio TRIARSI, et al., Appellees.

District Court of Appeal of Florida, Fifth District.

Rehearing Denied April 15, 2005.


Attorney(s) appearing for the Case

John F. Mariani and Christopher Kammerer of Gunster, Yoakley Stewart, P.A., West Palm Beach, for Appellant.

Michael V. Elsberry and W. Drew Sorrell of Lowndes, Drosdick, Doster, Kantor Reed, P.A., Orlando, for Appellees.


TORPY, J.

The question presented in this shareholder derivative action is whether a plaintiff/shareholder, to have standing to prosecute such an action, is required to have continuous ownership of his or her shares throughout the pendency of the action. Our resolution of this issue requires that we construe Florida's "contemporaneous ownership rule," embodied in section 607.07401, Florida Statutes (2002). We conclude that continuous ownership is required. Therefore...

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