PROFESSIONAL MANAGEMENT v. COSS

No. C1-99-246.

598 N.W.2d 406 (1999)

PROFESSIONAL MANAGEMENT ASSOCIATES, INC., et al., Appellants, v. Lawrence M. COSS, Respondent, Richard G. Evans, et al., Respondents, Green Tree Financial Corporation, a Delaware Corporation, Respondent.

Court of Appeals of Minnesota.

August 10, 1999.


Attorney(s) appearing for the Case

Karl L. Cambronne, Becky L. Erickson, Chestnut & Cambronne, P.A., Minneapolis; and Mark Reinhardt, Gary Ansel, Reinhardt & Anderson, St. Paul; and Vernon J. VanderWeide, Head, Seifert & VanderWeide, Minneapolis, Herbert L. Milstein, Lisa M. Mezzetti, Cohen, Milstein, Hausfeld & Toll, P.L.L.C., Washington, D.C., Arthur T. Susman, Charles R. Watkins, Susman & Watkins, C. Philip Curley, Robinson, Curley & Clayton, Lowell E. Sachnoff, Gary S. Caplan, Sachnoff & Weaver, Ltd., Chicago, Il, for appellants.

Thomas L. Kimer, Jeffrey D. Hedlund, Kara L. Benson, Wendy Wildung, Faegre & Benson, Minneapolis, for respondent Coss.

J. Patrick McDavitt, Robert E. Woods, Briggs & Morgan, P.A., Minneapolis, for respondents Evans, et al.

Peter S. Hendrixson, Andre T.M. Hanson, Dorsey & Whitney, LLP, Minneapolis, for respondent Green Tree Financial Corporation.

Considered and decided by DAVIES, Presiding Judge, RANDALL, Judge, and G. BARRY ANDERSON, Judge.


OPINION

RANDALL, Judge.

Appellants challenge the district court's dismissal of their shareholders' derivative action for failure to state a claim on which relief could be granted. Appellants assert that the district court: (a) abused its discretion and erred as a matter of law in concluding that appellants were required to make a pre-suit demand on respondent corporation before serving a second amended complaint...

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