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SWENSON v. THIBAUT

No. 7826SC78.

250 S.E.2d 279 (1978)

39 N.C. App. 77

Norman V. SWENSON, George C. Snyder, Frank O. Sherrill, William L. Pender, John R. Pender, III, Mary Rogers Pender Murphy, Doris Hare White, D. Lacy Keesler, S. Dewey Keesler, Carson Insurance Agency, Inc., et al. v. Charest D. THIBAUT, Jr., Thomas H. Clark, Ben F. Thompson, Jr., George C. Wiemer, Jr., Robert E. Wiemer, Herman Taylor, Jr., Travis E. Nichols, Lelier J. Leleux, et als.

Court of Appeals of North Carolina.

December 19, 1978.

Attorney(s) appearing for the Case

Cansler, Lockhart, Parker & Young by Thomas A. Lockhart and Joe C. Young, Charlotte, for plaintiffs-appellants.

Helms, Mullis & Johnston by E. Osborne Ayscue, Jr., Charlotte, for respondents-appellees Thomas A. Lockhart and Joe C. Young.

Stern, Rendleman, Isaacson & Klepfer by Robert O. Klepfer, Jr., and Arthur A. Vreeland, Greensboro, for defendant-appellant All American Assurance Company.

Jordan, Wright, Nichols, Caffrey & Hill by William D. Caffrey and G. Marlin Evans, Greensboro, for defendants-appellants Clark, Thompson, Nichols, Leleux, Hawkins, Duhe, Begnaud, Bares, Backus and Walton.

Bryant, Groves & Essex by Alfred S. Bryant, Charlotte, for defendants-appellants Thibaut and Comeaux.

Sanford, Cannon, Adams & McCullough by Robert W. Spearman and H. Hugh Stevens, Jr., Raleigh, for defendant-appellant Herman Taylor.

ROBERT M. MARTIN, Judge.

This is an action by thirty-three minority shareholders of All American Assurance Company (hereinafter "All American"), brought derivatively in the name of All American against the named defendants who are past and present officers and directors of All American.

All American is a North Carolina corporation with its registered office in Charlotte, North Carolina, and executive offices in...

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