Norris v. Osburn

Marshall, Justice.

This is a shareholder’s derivative action brought by Gary L. Norris as the owner of 10 shares of stock in Interstate Sign Service, Inc. Norris argues that Raymond C. Osburn, Sr., who is the president and principal shareholder of Interstate, has appropriated two tracts of corporate real estate to his own use. The trial court, after conducting hearings on this matter and considering various documentary evidence, entered an order dismissing the complaint. The plaintiff, appeals.

In 1966, Osburn was operating a commercial sign business. He had borrowed $5,000 from Norris to…