Petkas v. Grizzard

Marshall, Presiding Justice.

Jim Petkas, as a director and shareholder of Piedmont-Lindbergh Corporation, sued James Grizzard, Eugene Simons and the corporation, alleging illegal disposition of corporate assets, fraud, conspiracy and breach of fiduciary duty. The trial court denied the defendants’ motion to dismiss based on the statute of limitation, and there was a verdict against defendant Grizzard only. The Court of Appeals reversed, holding that the trial court should have dismissed the action as barred by the statute of limitation, and that the trial judge could not take judicial notice…