California Court of Appeal

In a derivative action in which defendant was sued by plaintiff-shareholder for allegedly unnecessary fees paid by defendant to a related corporate entity, grant of motion under Corporations Code 800 requiring plaintiffs to furnish a bond in the amount of $50,000 as security for defendant's anticipated litigation expenses to defend the action, is affirmed where section 800 allows a prevailing defendant to recover its attorney fees and costs out of the bond if one is posted.

Appellate Information

• Decided 01/26/2009
• Published 01/26/2009

Judges

Court

• California Court of Appeal

Counsel

• For Appellees:
  
• Lang, Richert & Patch, Fresno, Victoria J. Salisch, Val W. Saldana and Tamara L. Lyles, for Defendant and Appellant., Law Offices of Walter W. Whelan, Walter W. Whelan and Brian D. Whelan, Fresno, for Plaintiffs and Respondents.