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LONG v. LAMPTON

No. 95-774.

922 S.W.2d 692 (1996)

324 Ark. 511

Charles L. LONG, et al., Appellants, v. Leslie B. LAMPTON and Ergon, Inc., Appellees.

Supreme Court of Arkansas.

May 28, 1996.

Attorney(s) appearing for the Case

Dennis L. Shackleford, Jerry W. Watkins, El Dorado, for appellants.

Gordon S. Rather, Jr., Sammye L. Taylor, David Powell, Little Rock, for appellees.

ROAF, Justice.

This appeal arises from a minority shareholders' action for breach of fiduciary duty. Appellants Charles Long and other members of the Long family, minority shareholders of Lion Oil Company ("Lion"), filed an action against appellees Ergon, Inc. ("Ergon"), the largest shareholder of Lion, and Leslie B. Lampton, president of both Ergon and Lion, alleging breach of fiduciary duty in the implementation of a corporate recapitalization plan. The Longs appeal...

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