MOONLIGHT INVESTMENTS, LTD. v. JOHN

No. 11-05-00155-CV.

192 S.W.3d 890 (2006)

MOONLIGHT INVESTMENTS, LTD., Appellant, v. Francis D. JOHN et al, Appellees.

Court of Appeals of Texas, Eastland.

Rehearing Overruled June 15, 2006.


Attorney(s) appearing for the Case

William B. Federman, William Todd Ver Weire, Federman & Sherwood, Attorneys At Law, Oklahoma City, OK, Royal Caswell, Attorney At Law, Odessa, for appellant.

Robin C. Gibbs, Brian T. Ross, Gibbs & Bruns, Attorneys At Law, Houston, Harper Estes, Lynch Chappell & Alsup, P.C., Midland, Mark K. Glasser, Penn R. Huston, King & Spaulding, L.L.P., Attorneys At Law, Stephen S. Maris, Stephen M. Dollar, Melissa J. Swindle, Jenkens & Gilchrist, Attorneys At Law, Bruce W. Collins, Lyndon F. Bittle, Todd A. Murray, Carrington, Coleman, Sloman, & Blumenthal, L.L.P., Dallas, for appellees.

Panel consists of: WRIGHT, C.J., and McCALL, J., and McCLOUD, S.J.


OPINION

AUSTIN McCLOUD, Senior Justice.

The issue in this appeal is the propriety of the trial court's dismissal of a shareholder's derivative action based upon the shareholder's failure to make a pre-suit demand. Moonlight Investments, Ltd., a shareholder of a Maryland corporation known as Key Energy Services, Inc., brought this suit on behalf of Key Energy against various board members, officers, and auditors of the corporation.1

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