Industrial Electronics Associates, Inc. v. Poteat

CROSS, Judge.

Appellant, Industrial Electronics Associates, Inc., brings this interlocutory appeal seeking review of an order requiring ap-pellees-plaintiffs, Earl L. Poteat, et al., to post a “security-for-expenses” bond pursuant to Section 608.131(4), Florida Statutes *1361969, F.S.A., in a stockholders derivative suit. We affirm.

Plaintiffs, minority stockholders in the appellant corporation, instituted a stockholders derivative suit against certain directors of the corporation, alleging misconduct and breach of the directors’ fiduciary duty to the corporation. The corporation filed a motion…