Sacks v. American Fletcher National Bank & Trust Co.

This is an appeal from an order of the Marion Circuit Court sustaining the defendants’ motions to dismiss and dismissing appellant’s second amended complaint. This Court has accepted jurisdiction of this cause by virtue of its having been transferred from the Court of Appeals with the consent of all the parties. The second amended complaint seemingly asserts a stockholder’s derivative action alleging deceit and misrepresentation on the part of the defendants. The principal grounds of the defendants’ motions to dismiss are that the receiver of the corporation involved had not properly been…