Thorne v. Phillips

11 GOTHARD, Judge.

|2This appeal addresses questions of the acquisitive prescription of movables, specifically, corporate stock. The plaintiff herein filed this action, individually and as a shareholder’s derivative action, for damages, declaratory judgment and permanent injunction. The defendants filed several exceptions including no cause of action and prescription. After a hearing, the trial court granted the exception of prescription and dismissed the matter. Plaintiff appeals that judgment.

FACTS

The events leading up to this law suit began in August, 1980. At that time the Articles of…