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CLEMONS v. WALLACE

No. 78-720.

592 P.2d 14 (1978)

Paul B. CLEMONS, on behalf of himself and all other stockholders of G. M. Wallace & Co., a corporation, Plaintiff-Appellant, v. George M. WALLACE, J. R. Crowley, and G. M. Wallace & Co., a corporation, Defendants-Appellees.

Colorado Court of Appeals, Division III.

Rehearing Denied January 18, 1979.

Certiorari Denied March 19, 1979.

Attorney(s) appearing for the Case

Cooke, Gilles & Schaefer, Elwyn F. Schaefer, William J. deWinter, Denver, for plaintiff-appellant.

Holland & Hart, Harry L. Hobson, James E. Hartley, Denver, for defendants-appellees.

RULAND, Judge.

This case was initiated as a stockholder's derivative suit pursuant to C.R.C.P. 23.1. Based upon the fact that plaintiff Paul B. Clemons was the only stockholder pursuing the action, the trial court entered a summary judgment dismissing the amended complaint. We reverse and remand for additional proceedings.

The record reflects that the action was originally filed by Clemons and Raymond E. Kunkel as two of five minority stockholders in G. M...

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