Paul F. SHOEN; Alan Kahn; and Glenbrook Capital Limited Partnership, Appellants,
v.
SAC HOLDING CORPORATION, a Nevada Corporation; SAC Holding Corporation II, a Nevada Corporation; Three SAC Self-Storage Corporation, a Nevada Corporation; Four SAC Self-Storage Corporation, a Nevada Corporation; Five SAC Self-Storage Corporation, a Nevada Corporation; Six SAC Self-Storage Corporation, a Nevada Corporation; Six-A SAC Self-Storage Corporation, a Nevada Corporation; Six-B SAC Self-Storage Corporation, a Nevada Corporation; Six-C SAC Self-Storage Corporation, a Nevada Corporation; Seven SAC Self-Storage Corporation, a Nevada Corporation; Eight SAC Self-Storage Corporation, a Nevada Corporation; Nine SAC Self-Storage Corporation, a Nevada Corporation; Ten SAC Self-Storage Corporation, a Nevada Corporation; Eleven SAC Self-Storage Corporation, a Nevada Corporation; Twelve SAC Self-Storage Corporation, a Nevada Corporation; Thirteen SAC Self-Storage Corporation, a Nevada Corporation; Fourteen SAC Self-Storage Corporation, a Nevada Corporation; Fifteen SAC Self-Storage Corporation, a Nevada Corporation; Sixteen SAC Self-Storage Corporation, a Nevada Corporation; Seventeen SAC Self-Storage Corporation, a Nevada Corporation; Eighteen SAC Self-Storage Corporation, a Nevada Corporation; Nineteen SAC Self-Storage Limited Partnership, a Nevada Limited Partnership; Twenty SAC Self-Storage Corporation, a Nevada Corporation; Twenty-One SAC Self-Storage Corporation, a Nevada Corporation; Twenty-Two SAC Self-Storage Corporation, a Nevada Corporation; Twenty-Three SAC Self-Storage Corporation, a Nevada Corporation; Twenty-Four SAC Self-Storage Limited Partnership, a Nevada Limited Partnership; Twenty-Five SAC Self-Storage Limited Partnership, a Nevada Limited Partnership; Twenty-Six SAC Self-Storage Limited Partnership, a Nevada Limited Partnership; Twenty-Seven SAC Self-Storage Limited Partnership, a Nevada Limited Partnership; Edward J. Shoen, an Individual; Mark V. Shoen, an Individual; James P. Shoen, an Individual; John M. Dodds, an Individual; William E. Carty, an Individual; Richard Herrera, an Individual; Aubrey Johnson, an Individual; Charles J. Bayer, an Individual; John P. Brogan, an Individual; James J. Grogan, an Individual; and AMERCO, a Nevada Corporation, Respondents.
Ron Belec, Appellant,
v.
AMERCO, a Nevada Corporation; Edward J. Shoen, an Individual; Mark V. Shoen, an Individual; James P. Shoen, an Individual; John M. Dodds, an Individual; William E. Carty, an Individual; Charles J. Bayer, an Individual; John P. Brogan, an Individual; and James J. Grogan, an Individual, Respondents.
Supreme Court of Nevada.https://leagle.com/images/logo.png
July 13, 2006.
July 13, 2006.
Attorney(s) appearing for the Case
Beckley Singleton, Chtd., and Daniel F. Polsenberg, Las Vegas; Berman Devalerio Pease Tabacco Burt & Pucillo and Christopher T. Heffelfinger, San Francisco, California; Harold B. Obstfeld, New York, New York; Robbins Umeda & Fink and Brian Robbins, San Diego, California, for Appellants Belec, Glenbrook Capital and Kahn.
Lewis & Roca and Martha J. Ashcraft and James E. Berchtold, Las Vegas; Latham & Watkins and Brian T. Glennon and Marc W. Rappel, Los Angeles, California, for Appellant Paul Shoen.
Calvin R.X. Dunlap and Associates and Calvin R.X. Dunlap, Reno; Squire, Sanders & Dempsey, L.L.P., and Brian A. Cabianca and Mark A. Nadeau, Phoenix, Arizona, for Respondents SAC Entities and Mark Shoen.
Laxalt & Nomura, Ltd., and Daniel T. Hayward and Kerry Zachariasen Malone, Reno; Morrison & Foerster, LLP, and Melvin R. Goldman and Jack W. Londen, San Francisco, California, and Mark R. McDonald, Los Angeles, California, for Respondent AMERCO.
Parsons Behle & Latimer and John P. Fowler and Rew R. Goodenow, Reno; Irell & Manella, LLP, and Charles Edward Elder, Daniel Patrick Lefler and David Siegel, Los Angeles, California, for Respondents Bayer, Brogan, Dodds, Grogan, Herrera, and Johnson.
McDonald Carano Wilson LLP and Pat Lundvall and Thomas R.C. Wilson II, Reno; Pillsbury Winthrop Shaw Pittman LLP and Theodore Keith Bell and Walter J. Robinson, Palo Alto, California, for Respondents Edward J. Shoen, James P. Shoen and William E. Carty.
Before the Court En Banc.
Supreme Court of Nevada.
OPINION
HARDESTY, J.
In resolving this appeal, we clarify when the demand for corrective action that a shareholder must make upon a company's board of directors before filing a derivative suit may be excused as futile. Appellants Paul Shoen, Ron Belec, Glenbrook Capital, L.P., and Alan Kahn are shareholders in AMERCO, a Nevada holding company whose main subsidiary is U-Haul International, Inc. In 2002 and 2003, appellants filed four separate derivative...
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