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CHARLES v. EPPERSON & COMPANY

No. 51723.

137 N.W.2d 605 (1965)

Ross A. CHARLES, for Himself and All Other Shareholders of Epperson & Company, Inc., Appellants, v. EPPERSON & COMPANY, Inc., E. W. Epperson and W. E. Morton, Appellees, Basil N. Henriksen, Intervenor.

Supreme Court of Iowa.

October 19, 1965.

Attorney(s) appearing for the Case

Gary S. Gill, Des Moines, for appellants.

Donohue, Wilkins & Donohue, New Hampton, and Phil Gross, Sumner, for appellees.

Hagemann & Hagemann, Waverly, for intervenor.

THORNTON, Justice.

This is a stockholder's derivative action, dismissed by the trial court. Defendant corporation, Epperson & Company, Inc., hereinafter referred to as the corporation, was incorporated by plaintiff Charles, defendant Epperson and intervenor Henriksen and commenced business in 1952. The principal business of the corporation as shown in this record was the construction of grain storage facilities and a chicken house. The incorporators had been partners...

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