Fred R. Dunahugh v. Environmental Systems Company, a Delaware Corporation, and Melvyn L. Bell

MORRIS SHEPPARD ARNOLD, Circuit Judge.

Fred Dunahugh appeals judgments of the trial court 1 that claims related to a stock sale and two stock transfers are barred by the statute of limitations. He also appeals a judgment of the trial court on a claim for breach of contract related to stock offerings. We affirm the judgments.

I

In 1972, Fred Dunahugh was the majority shareholder in Pollution Controls, Inc. (PCI), at that time a Minnesota corporation. Late that year, Melvyn Bell bought all but 25,000 shares of Mr. Dunahugh’s stock in PCI and thus became the majority shareholder in the company. PCI…