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Attorney for plaintiff: Douglas M. Branson, Tacoma, Washington, Fred W.

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Triem, Petersburg, Alaska. Attorney for defendants: R. Collin Middleton, Glenn E. Cravez, Jacquelyn R. This is a class action in which shareholders claim that a corporation paid discriminatory dividends. Czse shareholders prevailed in Washinhton superior court. The corporation cross-appeals, asserting numerous defenses relating both to liability and damages. The plan was open only to original Kake shareholders who retained the one hundred shares they were issued when the corporation was organized. The plan consisted of two Washington Mutual Case Study. Original shareholders of Kake who retained all one hundred of their original shares and were between twenty-one and sixty-nine years of age were entitled to participate in the basic program. Individuals who were seventy years of age or older, and met the same shareholding requirements, were entitled to enroll in the senior program.

Under the basic program, Kake Washington Mutual Case Study a life insurance policy for each program participant. Kake retained read more of the policies, was named as the beneficiary, and retained the cash surrender values. Upon the death of a participant, the life insurance proceeds were placed in an account with an investment management firm. The funds in this account were used to pay program benefits, and for other corporate purposes. Participants who enrolled in the basic program had the option of choosing either a living benefits program or a death benefits program.

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This program was devised because the shareholders who were seventy years of age Washongton older were generally uninsurable. Kake began to experience financial difficulty. After making twenty-three monthly payments to the elders — as the parties describe the participants in the senior program — the payments were suspended in due to lack of funds.

The corporation then discontinued the senior program. Meanwhile, inKake switched the insurers which were underwriting the click here program. This required that new insurance forms be filled out by program participants. Many shareholders failed to re-enroll with the new insurer. The basic program was modified in On March 1,the basic program was terminated. The plaintiffs filed suit on August 31,alleging that the plan Washington Mutual Case Study discriminated against them.

Arlene Hanson and Victor Davis, Jr. When he died, fifty of his shares were transferred to Arlene and fifty passed to Victor. These Washinvton were no longer considered to be original shares and, as a result, Arlene and Victor were not entitled to participate in the plan. Washington Mutual Case Study Tagaban inherited twenty-five shares from his grandmother. He was also ineligible to participate in the plan. In the plaintiffs amended their complaint, asserting class action claims. Kake moved for summary judgment on statute of limitations grounds.]