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WERNER v. ALEXANDER

No. COA97-1083.

502 S.E.2d 897 (1998)

WERNER, et al. Profit Sharing Plan for the Benefit of Fred Werner, Edward Taran, Alan Kahn and John H. Norberg, Jr., on behalf of themselves and all others similarly situated, Plaintiffs, v. John M. ALEXANDER, Jr.; P.C. Barwick, Jr.; J. Melville Broughton, Jr.; Sidney R. French; Marvin D. Gentry; Alexander H. Graham, Jr.; M. Rex Harris; William H. Kincheloe; Chauncey W. Lever; Lynn T. McConnell; John F. McNair, III; Jack A. Moody; John S. Russell; Robert W. Griffin; and David T. Woodard, Defendants.

Court of Appeals of North Carolina.

August 4, 1998.

Attorney(s) appearing for the Case

McDaniel, Anderson & Stephenson, L.L.P. by L. Bruce McDaniel, Raleigh; Milberg Weiss Bershad Hynes & Lerach, LLP by Melvyn J. Weiss, Steven G. Schulman, Edith M. Kallas and U. Seth Ottensoser; Wolf Haldenstein Adler Freeman & Herz LLP by Daniel W. Krasner, Fred Taylor Isquith and Michael Jaffe, New York, NY; Taylor, Gruver & McNew by R. Bruce McNew, Greenville, DE; and Greenfield & Rifkin LLP by Mark Rifkin, Ardmore, PA, for plaintiffs-appellants.

Wyrick Robbins Yates & Ponton L.L.P. by Samuel T. Wyrick, III and L. Diane Tindall, Raleigh, for defendants-appellees.

WALKER, Judge.

In our review of the trial court's dismissal of this action pursuant to N.C.Gen.Stat. § 1A-1, Rule 12(b)(6), we must consider the allegations of the plaintiffs' complaint as true. Arroyo v. Scottie's Professional Window Cleaning, 120 N.C. App. 154, 155, 461 S.E.2d 13, 14 (1995), disc. review improvidently allowed, 343 N.C. 118, 468 S.E.2d 58

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