ALEXANDER v. STURKIE

No. 14-94-00312-CV.

909 S.W.2d 166 (1995)

Walter L. ALEXANDER, Jr., Ronald E. Lee, Jr., Individually and as Independent Executor of the Estate of Katherine P. Barnhart, Leonora Kerr Baldwin, Individually and as Trustee of the Kerr Voting Trust, Gardner Baldwin, Daphne Kerr Loft, Individually and as Independent Executrix of the Estate of Peter S. Loft, Kyra Kerr Lucchesi, Randa Kerr Davis, Virginia A. Winship, Helen Clifton, Carolyn Young, Elva J. Johnson, Trustee of the Johnson Foundation, Willard W. Shuart, Jack S. Josey, Individually and as Trustee of the Josey Foundation, Lenoir M. Josey II and Robert A. Josey II, Appellants, v. John D. STURKIE, Lloyd O. Sturkie, Craig A. Knight, Individually, and as General Partner of the CAK Family Partnership, Ltd., the CAK Family Partnership, Ltd., Judith Sturkie Knight and Quality Electric Steel Castings, Inc., Appellees.

Court of Appeals of Texas, Houston (14th Dist.).

Rehearing Overruled October 19, 1995.


Attorney(s) appearing for the Case

Paul S. Francis, Richard Yount, Jr., Houston, for appellants.

Russell B. Starbird, Theodore F. Weiss, Jr., Houston, for appellees.

Before YATES, FOWLER and O'NEILL, JJ.


OPINION

O'NEILL, Justice.

This is an appeal from a summary judgment in favor of appellees in a shareholders' derivative suit. Because material fact issues exist regarding the existence of a corporate opportunity, we reverse and remand.

I. THE ISSUE

The dispute in this case arises out of a series of stock purchases by which appellee, John D. Sturkie ("Sturkie"), gained a controlling interest in Quality Electric Steel Castings, Inc. ("Quality...

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