Great Rivers Cooperative v. Farmland Industries, Inc.

RULING DENYING DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT AGAINST TACEY ON COUNT VI

VIETOR, District Judge.

Background

In this class action, plaintiffs are holders of “capital credits,” a type of non-voting equity, in defendant Farmland Industries (“Farmland”). Plaintiffs allege that Farmland and Harry D. Cleberg, H. Wayne Rice, and Albert Shively, officers and/or directors of Farmland and its subsidiary, Farmland Foods, created a scheme under which plaintiffs and others were forced or misled into accepting capital credits. Plaintiffs further allege that it was the intent of defendants to refuse to…