Strazzulla v. Riverside Banking Co.

HAIMES, DAVID A, Associate Judge.

Appellants Frank Strazzulla, et al. (“Shareholders”), appeal the trial court’s order dismissing their amended complaint with prejudice and granting final summary judgment. The Shareholders’ amended complaint alleged claims of negligent and fraudulent misrepresentation by directors of the Corporation. The sole issue on appeal is whether the Shareholders can bring a direct action in their individual capacity for these claims or whether they are required to bring a derivative action in the name of the corporation. The trial court found that Shareholders lacked…