R. S. Ellsworth, Inc. v. Amfac Financial Corp.

The primary question in this case is whether plaintiffs-appellants have standing to sue. The trial court ruled that plaintiffs had no such standing and granted defendants-appellees’ motion to dismiss plaintiffs’ suit. We affirm.

Plaintiffs-appellants are stockholders of R. S. Ellsworth, Inc., a Hawaii corporation. R. S. Ellsworth, Inc. is the sole limited partner of Hawaii Loa Ridge Ventures, a Hawaii limited partnership of which Michael Ross, Carlos Read and Hawaii Loa Ridge, Inc. (later renamed Hawaii Loa Ridge Nominee, Inc.) are general partners.

The partnership was formed for the purpose of…