Shlens v. Egnatz

HOFFMAN, Judge.

The Shlenses, appellants in this action, are minority shareholders in the Hoosier State Bank (Hoosier); the appellees are the Bank's directors. The Shlenses are appealing the dismissal of their complaint which named the directors individually and in their corporate capacities.

The facts which together culminated in the present appeal began in 1982 and 1983 when Hoosier began experiencing financial difficulties. During this period the Bank was ordered, by the Federal Deposit Insurance Corporation (FDIC) and the Indiana Department of Financial Institutions (DFI) to raise $3.5…