Court of Appeals for the Sixth Circuit June 28, 1983, Nos. 81-1278, 81-1286 (Smillie v. Park Chemical Co.)

WEICK, Senior Circuit Judge.

The plaintiffs-appellants, Smillie, et ah, filed their complaint in the United States *273District Court for the Eastern District of Michigan, Southern Division, on May 19, 1977, suing individually and derivatively as shareholders of defendant, Park Chemical Company, a corporation, and seeking relief against the corporation and the individual defendants, all of whom