Opinion ID: 6295
Heading Depth: 4
Heading Rank: 3

Heading: til

Text: Conkling also claims that the TIL predicate acts should not have been decided on summary judgment. Conkling admits that TIL 26 is, and always has been owned by Turner and his family. In fact, based upon Turner's representations that TIL would solely be an estate planning tool to enable Turner to hold all of his and his family's stock in Nichols and Harmony, ... Conkling agreed that he would not be entitled to acquire his relative ownership in TIL. Although it is undisputed that the ownership of TIL remains exclusively in Turner and his family, Conkling claims that the placement of TIL as chief operating company over Nichols and its affiliates somehow changed its nature and entitled him to ownership. A closer look at the allegations and evidence, however, shows that Conkling's damages are based upon TIL's profits from the management of the Nichols-related companies, which is a derivative claim. Since Conkling does not have standing to raise derivative claims on behalf of the companies in which he holds stock, see Adams-Lundy v. Association of Professional Flight Attendants, 844 F.2d 245, 250 (5th Cir.1988), the district court properly granted judgment on this claim in favor of the defendants.