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FIRST STATE BANK OF FLOODWOOD v. JUBIE

No. 95-2112.

86 F.3d 755 (1996)

FIRST STATE BANK OF FLOODWOOD; Floodwood Agency, Inc.; John F. Schilling; William J. Gravelle; Joseph Bullyan; Eugene J. Stowell, Plaintiffs-Appellants, v. Jerry J. JUBIE; Irene M. Jubie; Janine I. Suonvieri; Kirk M. Suonvieri; Todd Jubie; Thomas Jubie, Kathie Jubie; Timothy Jubie, Defendants-Appellees.

United States Court of Appeals, Eighth Circuit.

Decided June 7, 1996.

Attorney(s) appearing for the Case

John F. Bonner, Minneapolis, MN, argued (Bradley A. Kletscher, Minneapolis, MN, on brief), for appellant.

Keith Brownell, Duluth, MN, argued, for appellee.

Before BOWMAN and LOKEN, Circuit Judges, and SCHWARZER, District Judge.

LOKEN, Circuit Judge.

John Schilling, William Gravelle, Joseph Bullyan, and Eugene Stowell acquired the First State Bank of Floodwood, Minnesota (the "Bank"), from Jerry and Irene Jubie by purchasing their stock in a holding company, Floodwood Agency, Inc. (the "Agency"). Extensive litigation has ensued. In this case, the individual purchasers, the Bank, and the Agency (collectively, the "Purchasers") sued the Jubies, asserting contract claims and common law and statutory...

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