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SHLENS v. EGNATZ

No. 37A03-8608-CV-247.

508 N.E.2d 44 (1987)

Harold SHLENS and Becky Shlens, As Trustees under a Trust Agreement Dated July 19, 1983; Michael Shlens, As Trustee for the Benefit of Jennifer Shlens; Michael Shlens, As Trustee for the Benefit of Jonathan D. Shlens; and Michael Shlens, As Trustee for the Benefit of Harold Shlens, Plaintiffs-Appellants, v. Nicholas EGNATZ, Jack Fesko, Albert C. Hand, Harold D. Johnson, Thomas G. Katshanias, Jarvis A. Roper and John R. Wilhelm, III, Individually and As Directors of the Hoosier State Bank of Indiana, Defendants-Appellees.

Court of Appeals of Indiana, Third District.

Rehearing Denied July 9, 1987.

Attorney(s) appearing for the Case

Harold Abrahamson, Mark P. Dvorscak, Abrahamson, Reed & Adley, Hammond, for plaintiffs-appellants.

R.R. McMahan, Stephen M. Murray, Diane I. Jennings, Lord, Bissell & Brook, Chicago, Ill., Frederick M. Cuppy, David Cerven, Thomas, Burke, Dyerly & Cuppy, Merrillville, for defendants-appellees.

HOFFMAN, Judge.

The Shlenses, appellants in this action, are minority shareholders in the Hoosier State Bank (Hoosier); the appellees are the Bank's directors. The Shlenses are appealing the dismissal of their complaint which named the directors individually and in their corporate capacities.

The facts which together culminated in the present appeal began in 1982 and 1983 when Hoosier began experiencing financial difficulties. During this period the Bank was...

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