A South Carolina man can’t proceed with a shareholder suit against the operator of his gated golf community for alleged mismanagement of funds after the Fourth Circuit found the claims mooted by the settlement of similar claims by two community boards.
A settlement of claims by the boards of directors responsible for the management of the Oldfield community bars a derivative action by resident Bob Star alleging similar claims, the U.S. Court of Appeals for the Fourth Circuit said Wednesday.
The Oldfield Club, which operates the golf course and recreational facilities, and the Oldfield Community Association filed separate suits against ...
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