KIDWELL EX REL. PENFOLD v. MEIKLE

Nos. 76-3688, 77-1253.

597 F.2d 1273 (1979)

Wayne L. KIDWELL, Attorney General of the State of Idaho, ex relation of Don V. PENFOLD and Kenneth M. Cooper, suing in the name of the State of Idaho to protect and enforce the rights of the charitable, recreational and educational beneficiaries of Grand Targhee Resort, Inc., Boyd Moulton and Milton Butler, members of the board of directors of Grand Targhee Resort, Inc., suing on behalf of Grand Targhee Resort, Inc., for the benefit of the charitable, recreational and educational beneficiaries of Grand Targhee Resort, Inc., and Cleon Kunz, suing derivatively in the right, on behalf of and for the benefit of Grand Targhee Resort, Inc., Appellants, v. Steve M. MEIKLE, Jr., Valley Bank of Rexburg, Idaho, an Idaho Corporation, Sioux Corporation, an Idaho Corporation, Grand Targhee Resort, Inc., an Idaho Non-Profit Cooperative Corporation, Big Valley Corporation, a Wyoming Corporation, William H. Robinson, Darold E. Smoot, Nile L. Boyle, Neal K. Powell, James E. Mitchell, Jr., Gene Sewell, John C. Commander, John J. Revello, John D. Hansen, Guy R. Hillman, J. Kent Jolley, Leonard S. Meranus, Charles W. Anness, United States of America, United States Department of Agriculture, Farmers Home Administration, United States Department of Agriculture, Forest Service, Targhee National Forest, Earl L. Butz, Secretary of Agriculture, United States Department of Agriculture, Frank Elliott, Administrator of the Farmers Home Administration, United States Department of Agriculture, United States Small Business Administration, Appellees.

United States Court of Appeals, Ninth Circuit.

June 1, 1979.


Attorney(s) appearing for the Case

Ronald J. Jarman, Pocatello, Idaho, Blaine S. Butler, Los Angeles, Cal., for appellants.

Sidney E. Smith, U. S. Atty., Boise, Idaho, Gordon S. Thatcher, Rexburg, Idaho, Terry L. Crapo, Idaho Falls, Idaho, Warren S. Derbidge, Asst. U. S. Attys., Boise, Idaho, for appellees.

Before VAN DUSEN, WRIGHT and GOODWIN, Circuit Judges.


GOODWIN, Circuit Judge:

Plaintiffs appeal from a summary judgment for all defendants. The complaint charged violations of the federal securities laws, advanced several pendent and diversity claims, and sought mandamus against federal officials.

I. FACTS

The relevant facts, gleaned from a lengthy record and cast in the light most favorable to the plaintiffs, are as follows:

Grand Targhee Resort, Inc. (Targhee) was organized in 1967 as an Idaho...

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