Taylor v. Terry

Robert H. Dudley, Justice.

This appeal is from a derivative action by shareholders who asserted a corporate right of action against the president of the corporation. A jury returned a verdict of $35,000 in favor of the corporation. The only point raised on appeal is the sufficiency of the evidence. We affirm. The case was certified to this Court by the Court of Appeals.

In Arkansas, derivative actions by shareholders are provided for by rule, statute, and case law. See ARCP Rule 23.1; Ark. Stat. Ann. § 64-223 (Repl. 1980); Parrish, A Look at the Derivative Suit, 24 Ark. L. Rev. 89 (1970). The…