LIKEN v. SHAFFER

No. 12697.

141 F.2d 877 (1944)

LIKEN et al. v. SHAFFER et al.

Circuit Court of Appeals, Eighth Circuit.

April 17, 1944.


Attorney(s) appearing for the Case

Irving B. Campbell, of Chicago, Ill. (Edward J. Dahms, of Cedar Rapids, Iowa, on the brief), for appellants.

Don Barnes, of Cedar Rapids, Iowa (T. M. Ingersoll, of Cedar Rapids, Iowa, on the brief), for appellees.

Before THOMAS, JOHNSEN, and VAN VALKENBURGH, Circuit Judges.


JOHNSEN, Circuit Judge.

The District Court held that a suit by some nonresident stockholders against the officers and directors of an Iowa corporation, to follow assets and for an accounting, was one for relief on the ground of fraud and therefore was barred by subdivision 5 of section 11007, Code of Iowa 1939, as not having been brought within five years.

It further held that, as to two of the plaintiffs, the question also was res judicata, by virtue of the...

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