Bass v. First Alabama Bancshares

The plaintiffs' lawsuit was filed prior to the merger. The damages claimed by the plaintiffs in their individual capacity are premised solely upon "depletion in value of their stock." Therefore, I agree with the majority that the individual claims were properly dismissed. See Gregory v. Mitchell, 459 F. Supp. 1162,1165 (M.D.Ala. 1978). No other loss has been alleged. Cf.Shelton v. Thompson, 544 So.2d 845 (Ala. 1989) (Torbert, C.J., dissenting) (impairment of shareholders' right to dissent from merger proposal would support individual cause of action). I therefore concur in that portion of the…