Long v. Lampton

Andree Layton Roaf, Justice.

This appeal arises from a minority shareholders’ action for breach of fiduciary duty. Appellants Charles Long and other members of the Long family, minority shareholders of Lion Oil Company (“Lion”), filed an action against appellees Ergon, Inc. (“Ergon”), the largest shareholder of Lion, and Leslie B. Lampton, president of both Ergon and Lion, alleging breach of fiduciary duty in the implementation of a corporate recapitalization plan. The Longs appeal a jury verdict in favor of Lampton and Ergon. They assert that the trial court 1) erred in denying a motion for…