Roney v. Joyner

PHILLIPS, Judge.

Plaintiff Roney, who owns 2,500 shares of stock in North State Financial Corporation, a North Carolina enterprise, brought this action upon behalf of the corporation and the other shareholders, alleging that the corporation was damaged by the mismanagement and neglect of the defendants in acquiring First Colony Savings and Loan Association’s stock. The individual defendants were directors of North State Financial Corporation when the stock was acquired and the corporate defendants—Trident Financial Services, a private consulting firm, and defendant Peat, Marwick, Mitchell &…