Pacemaker Plastics Co., Inc. v. AFM Corp.

OPINION

GWIN, District Judge.

With this opinion and related order, the Court rules on Defendants’ motion to dismiss the shareholder derivative and breach of contract claims asserted against them by Plaintiffs Pacemaker Plastics Co. Inc., Thermal Foams, Inc., and Therma Foam, Inc. 1 [Docs. 7 and 13]. Because Plaintiffs do not fairly and adequately represent similarly-situated shareholders, the Court dismisses the Plaintiffs’ derivative claim. And finding Plaintiffs lack standing to sue for breach of contract, the Court dismisses Plaintiffs’ contract claims.

I

This dispute arises from an abandoned…