North Carolina Business Litigation Report

Griffin Management Corp. v. Carolina Power and Light Co., November 13, 2009 (Jolly)(unpublished)

A shareholder who guarantees the debt of a corporation does not have an injury "separate and distinct" from the injury sustained by the corporation itself. The shareholder did not standing to pursue damages for the breach of a contract with the corporation.  A shareholder "cannot assert claims against a third party for loss of its equity investment in a corporation."

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Mack Sperling
Brooks Pierce, LLP
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