Nickell v. Shanahan

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Appellant filed a second amended petition against Respondents alleging individual claims for damages resulting from alleged fraud and breach of Respondents’ fiduciary duties as corporate officers and directors. The circuit court dismissed Counts I through III of the amended petition on the grounds that the petition pleaded shareholder derivative claims and failed to allege facts giving Appellant standing to sue the directors and officers individually. The Supreme Court affirmed, holding that Appellant’s claims alleged claims that were derivative rather than individual, and therefore, the circuit court did not err in dismissing Counts I through III of Appellant’s second amended petition. View "Nickell v. Shanahan" on Justia Law