Quinn v. Anvil Corp.

OPINION

GOULD, Circuit Judge:

Forrest Quinn appeals the district court’s judgment dismissing for lack of standing his diversity derivative action seeking damages from Anvil Corporation (“Anvil”), its board of directors (the “Board”), and others for breach of fiduciary duty, breach of contract, and negligence. During the pendency of Quinn’s suit, Anvil proposed an amendment to its articles of incorporation (the “Amendment”), which, among other things, would effect a reverse stock split divesting Quinn of his fifty shares of Anvil stock. The district court denied Quinn’s motion preliminarily to…