Denver Area Meat Cutters & Employers Pension Plan v. Clayton

OPINION

SHARON G. LEE, J„

delivered the opinion of the court, in which

CHARLES D. SUSANO, JR., and D. MICHAEL SWINEY, JJ„ joined.

In this appeal, Mr. Hayes, a shareholder of Clayton Homes, Inc., argues that the trial court erred in approving the settlement of a shareholder class action complaint filed by Denver Area Meat Cutters and Employers Pension Plan, et al, also a shareholder of Clayton Homes, Inc., against members of Clayton’s board of directors on behalf of Clayton’s shareholders. The complaint charged the directors with breach of fiduciary duties in connection with the acquisition of…