Fed. Sec. L. Rep. P 99,704 Dr. Malik M. Hasan and Seeme Hasan v. Clevetrust Realty Investors

NATHANIEL R. JONES, Circuit Judge.

This shareholder derivative action is presently before the Court upon the appeal of stockholders, Dr. Malik M. Hasan and Seeme Hasan (Hasan), from an order of the district court, 548 F.Supp. 1146, granting appellees’ motion for summary judgment. Appellants contend that summary judgment in favor of CleveTrust, eight trustees, an advising firm and the Merchant’s Fund (CleveTrust) was improperly based upon the recommendation of a Special Litigation Committee, the independence, good faith and thoroughness of which presented genuine issues of material fact. Hasan…