Miller ex rel. Grand Strand Diversified, Inc. v. Gandee

Shaw, Judge:

This shareholder derivative action arises from a corporation’s assignment of its major asset. Appellant Charles Miller is a one-third shareholder and was an officer and director of respondent Grand Strand Diversified, Inc. (GSD). Respondents N. Kent Gandee and Glendon P. Sprouse are one-third shareholders and officers and directors of GSD. Miller brought this action on behalf of GSD against Gandee, Sprouse, and GSD to (1) void the corporation’s assignment of a leasehold interest in 1.51 acres, together with parking rights on adjoining land, and (2) recover damages for…