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GOLDSTEIN v. WELLS

No. A09A0068.

673 S.E.2d 325 (2009)

GOLDSTEIN et al. v. WELLS et al.

Court of Appeals of Georgia.

February 9, 2009.

Attorney(s) appearing for the Case

Holzer, Holzer & Fistel, Michael I. Fistel Jr., Atlanta, for Appellants.

Rogers & Hardin, Tony G. Powers, Kimberly Lillian Myers, King & Spalding, Michael R. Smith, Dan Shamus McDevitt, Michael James Cates, Troutman Sanders, James Timothy Mast, James Kirk Quillian, Jaime L. Theriot, Atlanta, for Appellees.

ANDREWS, Presiding Judge.

The single issue on this appeal is whether the trial court erred when it dismissed a shareholder derivative action arising from the Wells Real Estate Investment Trust's decision to internalize certain management and advisory functions of its real estate business, a decision later approved by over 90 percent of the Trust's shareholders. Plaintiffs argue that the trial court should not have dismissed the derivative action because (1) three...

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