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  5. 288 N.E.2d 143 (1972)
 

STATE EX REL. GREAT FID. L. INS. CO. v. CIRCUIT CT.

No. 572S59.

288 N.E.2d 143 (1972)

STATE of Indiana ex rel. Great Fidelity Life Insurance Company et al., Relators, v. THE CIRCUIT COURT OF POSEY COUNTY, Steven C. Bach, As Judge of the Circuit Court of Posey County, Respondents.

Supreme Court of Indiana.

Rehearing Denied December 14, 1972.

Attorney(s) appearing for the Case

R. Stanley Lawton, Donald F. Elliott, Jr., G. Daniel Kelley, Jr., Gary M. Macek, Ice, Miller, Danadio & Ryan, Indianapolis, James L. Lowery, Kendall, Stevenson & Howard, Danville, for relators.

Theodore L. Sendak, Atty. Gen., Edward W. Wilson, Robert F. Colker, Deputy Attys. Gen., for amicus curiae.

Philip S. Kappes, Christopher Kirages, Dutton, Kappes & Overman, Indianapolis, for respondents.

GIVAN, Justice.

Relators are a corporation organized under the insurance laws of Indiana, the officers and directors of that corporation and that corporation's parent corporation, which owns more than 50% of the outstanding common stock of Great Fidelity. On January 26, 1972, United States Standard Asset Growth Corp. and Edward Karsch, its president, who together then owned less than 1.2% of the shares of Great Fidelity, brought a stockholders derivative suit in the...

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