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ADAIR v. WOZNIAK

No. 85-1090.

23 Ohio St. 3d 174 (1986)

ADAIR ET AL., APPELLEES AND CROSS-APPELLANTS, v. WOZNIAK; MONTEITH ET AL., APPELLANTS AND CROSS-APPELLEES.

Supreme Court of Ohio.

Decided April 30, 1986.

Attorney(s) appearing for the Case

Roderick, Myers & Linton, Robert F. Linton, Deborah L. Cook and Lawrence R. Bach, for appellees and cross-appellants, Harold Adair, Jon and Judy I. Houk, Clifford and Elaine Houk and Sylvester and Henrietta Houk.

Roetzel & Andress, David M. Best and Jeffrey J. Casto, for appellant and cross-appellee William Monteith.

Brouse & McDowell, John W. Solomon and Clair E. Dickinson, for appellant and cross-appellee First National Bank.

WRIGHT, J.

The issue to be decided is whether the wrongful acts of third parties directed towards the corporation which injure the shareholders by impairing the capital position of the corporation give an individual right of action to the shareholders. It is well-settled that only a corporation and not its shareholders can complain of an injury sustained by, or a wrong done to, the corporation. United States v. Palmer (C.A. 5, 1978),

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