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SMITH v. LEONARD

No. 93-1118.

876 S.W.2d 266 (1994)

317 Ark. 182

Jeannette E. SMITH, James E. and Paula Parker, and James Larry Smith, Appellants, v. John Paul and Shirley LEONARD and Leonard's Hardware, Inc., an Arkansas Corporation, Appellees.

Supreme Court of Arkansas.

May 31, 1994.

Attorney(s) appearing for the Case

Roger D. Rowe, Troy A. Price, Little Rock, William F. Smith, Russellville, Steven E. Edger, Tulsa, OK, for appellant.

Derrick M. Davidson, Little Rock, Robert E. Irwin, Ike A. Laws, Russellville, for appellee.

DUDLEY, Justice.

The main issue in this case is whether a stockholder in a closely held family corporation breached his duty to the other shareholders when he gained majority control. The chancellor ruled there was no breach of duty to the minority stockholders. We affirm.

This is the third appeal involving this case. See Smith v. Leonard, 310 Ark. 782-B, 840 S.W.2d 167 (1992) and...

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