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BACH v. NATIONAL WESTERN LIFE INS. CO.

No. 86-1290.

810 F.2d 509 (1987)

Kent BACH, Plaintiff-Appellant, v. NATIONAL WESTERN LIFE INSURANCE CO., et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

February 23, 1987.

Attorney(s) appearing for the Case

James V. Sylvester, Donald Scott Thomas, Jr., Clark, Thomas, Winters & Newton, Austin, Tex., for Bach.

Shannon H. Ratliff, Jerry A. Bell, Jr., McGinnis, Lochridge & Kilgore, Austin, Tex., for Moody.

R. James George, Jr., David Cohen, Graves, Dougherty, Hearon & Moody, Austin, Tex., for Shadek, Pauls, Dunn, Edwards, Sheppard & McLeon.

Will D. Davis, Heath, Davis & McCalla, Austin, Tex., Henry S. Nygaard, Craig T. Vincent, Salt Lake City, Utah, for Nat. Western Life Ins. Co.

Before VAN GRAAFEILAND, HIGGINBOTHAM, and JONES, Circuit Judges.

PATRICK E. HIGGINBOTHAM, Circuit Judge:

Applying Colorado law, we review a summary judgment for defendants granted in a shareholder's derivative suit after a special litigation committee of the board concluded that prosecuting the suit was not in the interest of the corporation. We affirm, concluding that Colorado's adoption of an expansive business judgment rule signals a favorable view of its application to the decisions of an SLC, and that there was no genuine...

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