Scholarly Commons @ UNLV Boyd Law Nevada Supreme Court Summaries Law Journals 5-12-2011 Summary of In re AMERCO Derivative Litigation, 127 Nev. Adv. Op. No. 17 Jennifer DelCarmen Nevada Law Journal Follow this and additional works at: https://scholars.law.unlv.edu/nvscs Part of the Business Organizations Law Commons Recommended Citation DelCarmen, Jennifer, "Summary of In re AMERCO Derivative Litigation, 127 Nev. Adv. Op. No. 17" (2011). Nevada Supreme Court Summaries. 269. https://scholars.law.unlv.edu/nvscs/269 This Case Summary is brought to you by the Scholarly Commons @ UNLV Boyd Law, an institutional repository administered by the Wiener-Rogers Law Library at the William S. Boyd School of Law. For more information, please contact
[email protected]. In re AMERCO Derivative Litigation, 127 Nev. Adv. Op. No. 17 (May 12, 2011)1 CORPORATE LAW – SHAREHOLDER DERIVATIVE ACTION Summary An appeal from an order to dismiss a shareholder derivative claim. Disposition/Outcome The district court‟s dismissal affirmed in part because a prior settlement barred certain claims and Appellants failed to plead sufficient facts for certain causes of action. The district court‟s dismissal reversed in part because the court incorrectly conflated the concepts and standing and in pari derilicto and Appellants sufficiently plead facts for other causes of action. Factual and Procedural History Leonard Shoen founded AMERCO, a Nevada corporation, in 1945. AMERCO is the parent company of the wholly owned subsidiary U-Haul International Inc. (“U-Haul”). Through U-Haul, AMERCO rents trucks, trailers and storage units to the public. Amerco Real Estate Corporation (“AREC”), another subsidiary of AMERCO, controls the purchase, sale, and lease of properties used by AMERCO.