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U.S. FIDELITY AND GUAR. CO. v. GRIFFIN

No. 06A01-8806-CV-198.

541 N.E.2d 553 (1989)

UNITED STATES FIDELITY AND GUARANTY COMPANY, Defendant-Appellant, v. Ida M. GRIFFIN, Jack W. Griffin, David F. Tudor, Anthony Stroinski, Robert E. Sauer, Dorothy M. Sauer, On Behalf of Themselves and All Others Similarly Situated, Plaintiffs-Appellees.

Court of Appeals of Indiana, First District.

July 27, 1989.

Attorney(s) appearing for the Case

Hugh E. Reynolds, Jr., Julia M. Blackwell, James Dimos, Todd J. Kaiser, Locke Reynolds Boyd & Weisell, Charles W. Linder, Jr., Linder and Hollowell, Indianapolis, Michael J. Andreoli, Donaldson Andreoli & Truitt, Lebanon, for defendant-appellant.

John R. Price, Burroughs & Price, Indianapolis, for plaintiffs-appellees.

RATLIFF, Chief Judge.

STATEMENT OF THE CASE

United States Fidelity and Guaranty Company (USF & G) appeals the judgment of the trial court awarding former stockholders in the now defunct Carmel Bank and Trust Company (Bank) $997,500 in compensatory damages and $5,000,000 in punitive damages. We reverse.

FACTS

The present litigation is part of a lengthy and involved factual situation. However, an abbreviated version of the facts will...

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