SIMPSON v. SPELLMAN

No. KCD 26481.

522 S.W.2d 615 (1975)

Nancy Lakenan SIMPSON, Plaintiff-Appellant, v. James A. SPELLMAN, Jr., et al., Defendants-Respondents.

Missouri Court of Appeals, Kansas City District.

Motion for Rehearing and/or Transfer Denied May 6, 1975.

Application to Transfer Denied June 9, 1975.


Attorney(s) appearing for the Case

Max W. Foust, Duke W. Ponick, Jr., Kansas City, for plaintiff-appellant.

Roger W. Penner, Courtney W. Perkins, Kansas City, for defendants-respondents.

Before DIXON, C. J., and SHANGLER and WASSERSTROM, JJ.


DIXON, Chief Judge.

A stockholders derivative action in equity. Plaintiff is a minority shareholder in a closely held Missouri corporation, American Investors Alliance, Inc. The defendants are James Spellman, majority shareholder, controlling director and his alter ego corporation, Ridge Spellman Insurance Agency. The suit to require the defendants to, first, account for an allegedly inadequate consideration for the purchase of treasury stock or to rescind the transaction...

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