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  5. 592 N.W.2d 460 (1999)
 

WESSIN v. ARCHIVES CORP.

Nos. C5-98-28, C3-98-30.

592 N.W.2d 460 (1999)

George WESSIN, David Wessin, E.R. Salovich, M.D., and George O. Holm, Respondents, v. ARCHIVES CORPORATION, a Minnesota Corporation, John D. Jerome and Sandra Jerome, Petitioners, Appellants.

Supreme Court of Minnesota.

May 13, 1999.

Attorney(s) appearing for the Case

Kay Nord Hunt, Phillip A. Cole, Lommen, Nelson, Cole & Stageberg, P.A., Minneapolis, for appellant Archives Corp.

Vincent D. Louwagie, Fruth & Anthony, Minneapolis, for appellants John D. and Sandra Jerome.

David R. Marshall, Cynthia Jokela, Steven J. Quam, Fredrikson & Byron, P.A., Minneapolis, for respondents.

Heard, considered, and decided by the court en banc.

OPINION

GILBERT, J.

This case was brought as a direct action by some of the minority shareholders of a closely held corporation. The minority shareholders allege that the corporation's majority shareholder misappropriated and wasted corporate assets. The minority shareholders sought recovery on their own behalf, rather than on the behalf of the corporation pursuant to Minn. R. Civ. P. 23.06, which governs derivative...

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