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BACIGALUPO v. KOHLHEPP

No. 2006-CA-001020-MR.

240 S.W.3d 155 (2007)

Robert BACIGALUPO and Shirley Bacigalupo, Appellants v. Jerome C. KOHLHEPP; John Doe # 1, a Director and Chairman of First National Bank of Northern Kentucky; John Doe # 2, a Director and Chairman of First National Bank and The Bank's Audit Committee; John Doe # 3, a Director and Chairman of First National Bank and The Bank's Executive Committee; John R. Kummer; Raymond A. Mueller; James Pulsfort; Richard M. Thomas; and John S. Weber, Appellees.

Court of Appeals of Kentucky.

November 16, 2007.

Attorney(s) appearing for the Case

Stanley M. Chesley, James R. Cummins, Waite, Schneider, Bayless & Chelsey Co. L.P.A., Cincinnati, OH, for Appellants.

K. Gregory Haynes, Virginia Hamilton Snell, Michelle D. Wyrick, Wyatt, Tarrant & Combs, LLP, Louisville, Robert M. Watt, III, Charles E. Shivel, Jr., Shannon A. Singleton, Stoll, Keenon Ogden, PLLC, Lexington, KY, H. Lawson Walker II, Frost Brown Todd, LLC, Cincinnati, OH, for Appellees.

Before LAMBERT, MOORE, and NICKELL, Judges.

OPINION AND ORDER

NICKELL, Judge.

Appellants, Robert and Shirley Bacigalupo1 (hereinafter "Bacigalupo") brought this shareholder's double derivative action on behalf of FNB Bancorporation, Inc. (hereinafter "FNB") in the Kenton Circuit Court alleging the appellees, a minority of the officers and directors of FNB, had breached their fiduciary duties to FNB thereby causing FNB and its wholly

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