VIRGINIA M. DAMON TRUST v. NORTH COUNTRY FINANCIAL

No. 2:03-CV-0135.

406 F.Supp.2d 796 (2005)

VIRGINIA M. DAMON TRUST, Plaintiff, v. NORTH COUNTRY FINANCIAL CORPORATION, Nominal Defendant, and Dennis Bittner, Bernard A. Bouschor, Ronald G. Ford, Sherry L. Littlejohn, Stanley J. Gerou II, John D. Lindroth, Stephen Madigan, Spencer Shunk, Michael Henrickson, Glen Tolksdorf, and Wesley Hoffman, Defendants.

United States District Court, W.D. Michigan, Northern Division.

September 7, 2005.


Attorney(s) appearing for the Case

Edward A. Wallace, Kenneth A. Wexler, Wexler Law Firm LLP, Chicago, IL, Fredric N. Goldberg, Mika Meyers Beckett & Jones PLC, Grand Rapids, MI, James Donehoo Wilson, Shefsky & Froelich Ltd., Chicago, IL, Olimpio Lee Squitieri, Squitieri & Fearon LLP, New York, NY, for Plaintiff.

Bryan R. Walters, Richard A. Kay, Varnum, Riddering, Schmidt & Howlett LLP, Grand Rapids, MI, Eric J. Guerin, Varnum Riddering Schmidt & Howlett LLP, Kalamazoo, MI, Thomas G. McNeill, Dickinson Wright, PLLC, Detroit, MI, Geoffrey A. Fields, Dickinson Wright, PLLC, Grand Rapids, MI, for Defendants.


OPINION

QUIST, District Judge.

Plaintiff, Virginia M. Damon Trust, brought this shareholder derivative lawsuit against North Country Financial Corporation (the "Corporation"), all of its outside directors, and two former officers, alleging breach of fiduciary duty (Count II).1 Plaintiff also demands restitution and rescission of compensation paid to Ronald G. Ford ("Ford") and Sherry L. Littlejohn ("Littlejohn"), two of...

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