Patricia A. Brown H. B. Brown v. J. Porter Barton, and Myron Sukut

57 F.3d 1076 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. Patricia A. BROWN; H. B. BROWN, Plaintiffs-Appellants, v. J. Porter BARTON, Defendant, and Myron Sukut, Defendant-Appellee. No. 94-56224. United States Court of Appeals, Ninth Circuit. Argued and Submitted May 2, 1995. Decided May 25, 1995. Before: FLETCHER, BRUNETTI, and T.G. NELSON, Circuit Judges. 1 MEMORANDUM * 2 Plaintiffs Patricia and H.B. Brown appeal the district court's grant of summary judgment in favor of Defendant Myron Sukut. We have jurisdiction pursuant to 29 U.S.C. Sec. 1291 , 1 and we affirm. I. 3 The district correctly concluded that the Browns' stock-related claims were derivative in nature and, because the Browns failed to comply with Fed. R. Civ. P. 23.1, summary judgment was appropriate. The Browns' complaint alleges injuries that resulted in a devaluation of their stock. Devaluation of stock is considered a corporate injury, for which the shareholders' only recourse is a derivative suit.…