Roussel v. Tidelands Capital Corp.

MEMORANDUM OPINION

GUIN, District Judge.

This cause is before the court on plaintiff’s motion for rehearing or for new trial and motion for recusal. This action was filed solely as a derivative action on behalf of American Tidelands Life Insurance Company (“American Tidelands”) by the plaintiff, Louis J. Roussel, against nineteen individual and corporate defendants. The purported occasion for filing this action was a proposed tender offer by American Tidelands for approximately 380,000 shares or some 51 percent of the outstanding stock of The Gibraltar Life Insurance Company of America, of…