Shepard v. Meridian Ins. Group, Inc.

ENTRY ON DEFENDANTS’ MOTION TO DISMISS

HAMILTON, District Judge.

The central questions in this diversity case are whether and how a dissenting shareholder of a publicly held Indiana corporation may seek relief from directors’ alleged breaches of fiduciary duties in agreeing to a merger that will end the dissenter’s ownership interest in the corporation. Plaintiff Gregory M. Shepard owns common stock of defendant Meridian Insurance Group, Inc., which the parties refer to as “MIGI” to distinguish it from related companies. Shepard has sued MIGI and its directors to enjoin a proposed merger…