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WELTZIN v. COBANK, ACB

No. 99-0691.

633 N.W.2d 290 (2001)

Roger WELTZIN, Arnold L. Noe, and Roland W. Riensche, for Themselves and All Other Shareholders of La Porte City Cooperative Elevators, Appellants, v. COBANK, ACB, and Kenneth D. Grant, Appellees.

Supreme Court of Iowa.

September 6, 2001.

Attorney(s) appearing for the Case

Boyd J. Milroy of Milroy, Eckhart & Thompson, Vinton, for appellants.

Joseph M. Barron and John M. Wharton of Peddicord, Wharton, Spencer & Hook, P.C., Des Moines, for appellees.

CARTER, Justice.

Roger Weltzin, Arnold L. Noe, and Roland W. Riensche, for themselves and other shareholders of the La Porte City Cooperative Elevator (Coop), who have sued as a class, appeal from an adverse summary judgment in their action against Cobank, ACB (Cobank), a federally chartered lending institution, and Kenneth D. Grant, a loan officer of Cobank. The shareholder class had alleged that the defendants were negligent and breached their fiduciary duty in...

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