MORTON v. AMERICAN CAPITAL STRATEGIES LIMITED

Civil Action No. H-13-2558.

ROBERT MORTON, et al., Plaintiffs, v. AMERICAN CAPITAL STRATEGIES LIMITED, et al., Defendants.

United States District Court, S.D. Texas, Houston Division.

June 6, 2014.


Attorney(s) appearing for the Case

Robert Morton, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Richard Koester, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Ruben Pena, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Benedict Rogers, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Jerry D Barton, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Donna Barnhart, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Kevin Barnhart, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Phillip Damian, Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

Debra Thibodeaux, Ind., Collectively & Derivatively as Shareholders of 8350 Mosley Corp f/k/a Aeriform Corp f/k/a IWECO Inc., Plaintiff, represented by Dwayne Richard Day & Michael John Maloney , Maloney Martin LLP.

American Capital Strategies Limited, Defendant, represented by Michael Jay Baker , Arnold & Porter LLP, Carolyn Pearce , Arnold Porter LLP & Edward J Murphy , Beirne Maynard and Parsons.

John F Coggin, Defendant, represented by Craig Louis Weinstock , Locke Lord Bissell and Liddell.

Michael R Logan, Defendant, represented by Craig Louis Weinstock , Locke Lord Bissell and Liddell.

Karl Joseph Thoma, Defendant, represented by Carolyn Pearce , Arnold Porter LLP & Edward J Murphy , Beirne Maynard and Parsons.

Michael Stoddard, Defendant, represented by Carolyn Pearce , Arnold Porter LLP & Edward J Murphy , Beirne Maynard and Parsons.

8350 Mosley Corporation, f/k/a Aeriform Corporation f/k/a IWECO, Inc., Defendant, represented by Michael Jay Baker , Arnold & Porter LLP, Carolyn Pearce , Arnold Porter LLP & Edward J Murphy , Beirne Maynard and Parsons.


MEMORANDUM AND ORDER

LEE H. ROSENTHAL, District Judge.

The plaintiffs, nine shareholders in 8350 Mosley Corporation, f/k/a Aeriform Corporation, f/k/a IWECO, (the "Corporation"), filed suit in state court against the Corporation, its majority shareholder, American Capital Strategies Limited ("ACS"), and four individuals who were part of the corporate defendants' management. The plaintiffs alleged that the defendants breached fiduciary...

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