Court of Appeals for the Fifth Circuit February 28, 1983, 81-1463 (Harry Lewis v. Al Knutson)

INGRAHAM, Circuit Judge:

This appeal arises from a shareholder derivative suit filed on behalf of Contran, Inc., alleging that the Inside Defendants— the officers and directors of Contran, the target company — breached a fiduciary duty by opposing a tender offer by Outside Defendants — the principals of Danco, Inc.