Mark Krueger, Werner Sublette, Ron Phillips and Charles Zeman Missouri Cases

Tim Laske, a shareholder, appealed the trial court's dismissal of his class action petition against corporate officers for breach of fiduciary duties and self-dealing. Laske alleged that the officers secured a lower stock purchase price for Bancorp shares and personally benefited, directly harming shareholders. The appellate court affirmed the dismissal, holding that Laske's claims were derivative, not direct, because the alleged harm of diminished stock value was common to all shareholders and necessarily diminished the corporation's value. The court also denied the Respondents' motion to dismiss the appeal for lack of appellate jurisdiction.