Jankowski v. Taylor, Bishop & Lee

Clarke, Justice.

Defendant law firm and individual attorneys filed a shareholders derivative suit on October 26, 1972, on behalf of Joseph J. Lahiff and others against Euley T. Morgan, the principal officer and director of L.E.P.A Investments, Inc. They prayed for judgment in the amount of $350,000 for acts of malfeasance-misfeasance and fraud. The applicable statute of limitation on that claim expired April 13, 1975.

On January 28,1974, the case was called for trial. When counsel for plaintiffs failed to announce ready, the trial court dismissed the action with prejudice for want of…