Zauber v. Murray Savings Ass'n

ROBERTSON, Justice.

Appellant, Ray Zauber, brought this derivative action on behalf of Murray Savings Association seeking an accounting for and recovery of assets allegedly converted from Murray Savings to the use and benefit of the appellees as insiders. In the trial court appellees contended that appellant did not meet the standing requirements to bring a derivative suit for the following reasons: he had not complied with the class action requirements in rule 42 of the Texas Rules of Civil Procedure; he had not complied with the demand requirements of article 5.14(B)(2)(b) of the Texas…