Fields v. Sax

This appeal arises from the granting of defendants’ motion for judgment at the close of plaintiffs’ case. (Ill. Rev. Stat. 1981, ch. 110, par. 2 — 1110.) The cause of action, a derivative suit by shareholders of Exchange National Bank, was originally filed in 1970. The defendants, George Sax, Samuel Sax, Samuel Bergman, Melvin Lippe and Walter Hepner, were directors of the nominal defendant, Exchange National Bank. George Sax was the chairman of the board of directors until his death in 1974, and Samuel Sax was the president of the bank. Jerome Sax was the nominal plaintiff in the original…