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BOLAND v. BOLAND

Nos. 123, 129, September Term, 2010.

31 A.3d 529 (2011)

423 Md. 296

John L. BOLAND, et. al. v. Sean F.X. BOLAND, et al. John L. Boland, et. al. v. Boland Trane Associates, Inc., et. al.

Court of Appeals of Maryland.

Reconsideration Denied November 18, 2011.

Attorney(s) appearing for the Case

Joseph P. Suntum (Miller, Miller & Canby, Chtd., Rockville, MD), on brief, for petitioners in No. 123, Sept. Term, 2010.

Michael F. Flynn, Jr. ( Erin Schiesel of Gleason, Flynn, Emig & Fogleman, Chtd., Rockville, MD), on brief; John M. Quinn , ( Michael J. McAuliffe of Ethridge, Quinn, Kemp, McAuliffe, Rowan & Hartinger, Rockville, MD), on brief, for respondents in No. 123, Sept. Term, 2010.

Joseph P. Suntum (Miller, Miller & Canby, Chtd., Rockville, MD), on brief, for appellants in No. 129, Sept. Term, 2010.

Michael F. Flynn, Jr. ( Erin Schiesel of Gleason, Flynn, Emig & Fogleman, Chtd., Rockville, MD), on brief; John M. Quinn ( Michael J. McAuliffe of Ethridge, Quinn, Kemp, McAuliffe, Rowan & Hartinger, Rockville, MD), on brief, for appellees in No. 129, Sept. Term, 2010.

Argued before BELL, C.J., BATTAGLIA, GREENE, MURPHY, ADKINS, BARBERA, and JOHN C. ELDRIDGE (Retired, Specially Assigned), JJ.

ADKINS, J.

These appeals involve two lawsuits, which include a derivative claim and a direct shareholder action, both arising from a series of stock transactions in a family business owned primarily by eight siblings. Out of those siblings, three brothers served as directors and officers of two family corporations, while the other five siblings were not actively involved in their management. After the death of one of the sisters, the corporations attempted to repurchase...

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