Shareholder lacks standing to sue officers, majority shareholders for fraud

In Dawson v. Delisle, et al., the Michigan Court of Appeals applied statutory law to deny Dawson the right to sue the shareholder-officers of IIG-DSS company for his individual damages resulting from the shareholder-officers' alleged fraud and breach of fiduciary duty.  The Court noted that under Michigan law, the defendants owed a fiduciary duty, however, the duty ran to the corporation and it could be enforced only by a shareholder bringing suit on behalf of the corporate entity.  The shareholder was owed no personal duty and could not sue on his own, individual behalf.