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COOPER v. USCO POWER EQUIP. CORP.

1930484, 1930485.

655 So.2d 972 (1995)

Turnham W. COOPER, et al. v. USCO POWER EQUIPMENT CORPORATION, et al. Maude S. COLLEY v. USCO POWER EQUIPMENT CORPORATION, et al.

Supreme Court of Alabama.

February 10, 1995.

Attorney(s) appearing for the Case

Daniel H. Markstein III and Robert W. Tapscott, Jr. of Maynard, Cooper & Gayle, P.C., Birmingham, for appellants.

Frank M. Bainbridge of Bainbridge, Mims & Rogers, Birmingham, for Benton T. Lankford, W.A. Lankford, Jr., Phillip Lankford, Jr. and Diane Phoebus.

Dennis G. Pantazis and Joseph H. Calvin III of Gordon, Silberman, Wiggins & Childs, P.C., Birmingham for USCO Power Equip. Corp.

KENNEDY, Justice.

The plaintiffs appeal from a summary judgment in favor of the defendant USCO Power Equipment Corporation.

On December 15, 1992, Merle Cooper and Turnham Cooper filed a shareholder's derivative action against USCO, alleging breach of fiduciary duty, based on what they alleged to be USCO's excessive compensation of the company's chief executive officer, Benton T. Lankford. The plaintiffs also alleged that USCO was spending too much money was...

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