General Edgar G. Doleman, U.S. Army (Retired), Lorrin Dolim, and Robert Rinker v. Meiji Mutual Life Insurance Company, a Japanese Corporation

SNEED, Circuit Judge:

Appellants, minority shareholders of Pacific Guardian Life Insurance Company, seek review of the district court’s Fed.R.Civ.P. 12(c) dismissal of portions of their class action for failure to state a cause of action under Hawaii law. Jurisdiction in the federal district court existed by virtue of diversity of citizenship. 28 U.S.C. § 1332 (1976). Appellants assert that the dismissed portions of their complaint rested on two valid principles of the law of the State of Hawaii. The first is that minority shareholders can assert a direct cause of action against the purchaser…