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VISTA FUND v. GARIS

No. 48656.

277 N.W.2d 19 (1979)

The VISTA FUND, Appellant, v. Gordon O. GARIS, et al., Respondents, Deltak Corporation, et al., Respondents, Community Investment Enterprises, Inc., Respondent, Cummins Diesel Sales, Inc., etc., Respondent.

Supreme Court of Minnesota.

January 26, 1979.

Attorney(s) appearing for the Case

Gray, Plant, Mooty, Mooty & Bennett and Curtis D. Forslund and Susan L. Lentz, Minneapolis, for appellant.

Fredrikson, Byron, Colborn, Bisbee & Hansen and Jerome B. Pederson and John A. Satorius, Minneapolis, for Garis, et al.

Rider, Bennett, Egan & Arundel and Timothy R. Thornton and Scott K. Goldsmith, Minneapolis, for Deltak, et al.

Arthur E. Anderson, LeSueur, Carlsen, Greiner & Law, Minneapolis, for respondents.

Heard before ROGOSHESKE, KELLY, and SCOTT, JJ., and considered and decided by the court en banc.

SCOTT, Justice.

This is an appeal from a judgment of the Hennepin County District Court granting partial summary judgment and dismissing a complaint insofar as it asserts any stockholders' derivative claims on behalf of defendants, Foster Wheeler Company (Foster Wheeler) and RayGo, Inc. (RayGo).1 We affirm.

Plaintiff, the Vista Fund (Vista), is a Minnesota partnership formed to invest in promising new enterprises. In December 1967...

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