Hanrahan v. Kruidenier

HARRIS, Justice.

This is a shareholder derivative action, in the guise of a class action, to challenge a number of actions taken by defendant corporate leadership in winding up a corporation. The trial court dismissed the claims. Defendants cross-appeal from the denial of the imposition of sanctions. We affirm on both appeals.

Defendants, 1 led by David Kruidenier, held management positions with the Des Moines Register and Tribune Company, a longtime Iowa newspaper publisher. In 1985 the company changed its name to R & T Liquidation, Inc., after its assets had been sold. Plaintiffs, led by…