Legal Opinion
Cookies Food Products, Inc. v. Lakes Warehouse Distributing, Inc.
Supreme Court of Iowa
Decided October 19, 1988No. 86-1825PublishedCited by 46 opinions
1Opinion of the Court
NEUMAN, Justice.
This is a shareholders’ derivative suit brought by the minority shareholders of a closely held Iowa corporation specializing in barbeque sauce, Cookies Food Products, Inc. (Cookies). The target of the lawsuit is the majority shareholder, Duane “Speed” Herrig and two of his family-owned corporations, Lakes Warehouse Distributing, Inc. (Lakes) and Speed’s Automotive Co., Inc. (Speed’s). Plaintiffs alleged that Her-rig, by acquiring control of Cookies and executing self-dealing contracts, breached his fiduciary duty to the company and fraudulently misappropriated and converted…
2Cases cited13 opinions
- Smith v. Van GorkomSupreme Court of Delaware · 1985
- Norlin Corp. v. Rooney, Pace Inc.Court of Appeals for the Second Circuit · 1984
- Holden v. Construction MacHinery CompanySupreme Court of Iowa · 1972
- Rowen v. Le Mars Mut. Ins. Co. of IowaSupreme Court of Iowa · 1979
- Grefe v. RossSupreme Court of Iowa · 1975
8 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- State v. PaceSupreme Court of Iowa · 1999
- Lewis v. VogelsteinCourt of Chancery of Delaware · 1997
- Thomas Horras v. American Capital StrategiesCourt of Appeals for the Eighth Circuit · 2013
- Rieff v. EvansSupreme Court of Iowa · 2001
- Great Rivers Cooperative Of Southeastern Iowa v. Farmland Industries, Inc.Court of Appeals for the Eighth Circuit · 1999
41 more not listed; retrieve them via the Exa API.