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WARD v. ATLAS CONSTRUCTION CO., INC.

21460

276 S.C. 346 (1981)

278 S.E.2d 621

Leroy E. WARD, Appellant, v. ATLAS CONSTRUCTION COMPANY, INC., Joan F. Young, a/k/a Joan F. Young Martin, individually; Joan F. Young a/k/a Joan F. Young Martin, as Executrix of the Last Will and Testament of James E. Young; Polly Mathaney; Sharri Lilly, individually; Sharri Lilly, as Trustee for Chad Lilly; and Sharri Lilly as Executrix of the Last Will and Testament of J.C. Lilly, Defendants, of whom Joan F. Young, a/k/a Joan F. Young Martin, individually and Joan F. Young a/k/a Joan F. Young Martin, as Executrix of the Last Will and Testament of James E. Young, is the Respondent.

Supreme Court of South Carolina.

May 25, 1981.

Attorney(s) appearing for the Case

McCaskill & Rowe, Conway, and Ham & Richardson, Columbia, for appellant.

Bellamy, Rutenberg, Copeland, Epps, Gravely & Bowers, Myrtle Beach, for respondent.

May 25, 1981.

GREGORY, Justice:

Appellant Leroy E. Ward brought this shareholder's derivative suit seeking access to the corporate records of defendant Atlas Construction Company, Inc., and an accounting of corporate profits. The trial judge dismissed the action and this appeal followed. We reverse.

The court below found appellant lacked standing to sue as an individual in a derivative action since the alleged wrong was suffered by the corporation...

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