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AM. NAT. BANK & TRUST CO., ETC. v. CLARK

586 S.W.2d 825 (1979)

AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHATTANOOGA, Petitioner-Defendant, v. Norman Frances Raoul CLARK and Ann Elizabeth Raoul, Respondents-Plaintiffs.

Supreme Court of Tennessee.

Rehearings Denied October 1, 1979.

Rehearings Denied October 29, 1979.

Attorney(s) appearing for the Case

Jere T. Tipton, Miller & Martin, John P. Gaither, Witt, Gaither & Whitaker, Chattanooga, for petitioner-defendant.

Leonard R. Tanner, Jr., Richard P. Jahn, Chattanooga, for respondents-plaintiffs.

OPINION

HARBISON, Justice.

In this action the beneficiaries of an inter vivos trust, created in 1949, sued the trustee for damages. They alleged that the trustee breached its fiduciary duty to advise them fully concerning transactions in 1944 involving shares of corporate stock which the beneficiaries transferred to the trust in 1956. This suit was begun in 1977. It is a sequel to and an outgrowth of earlier litigation between the same parties concerning...

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