Business | Law

Court backs Alaska Native corporation in shareholder dispute





Federal courts have jurisdiction to rule on Alaska Native corporation shareholder disputes, the 9th Circuit Court of Appeals ruled on Monday.

Cook Inlet Region Inc., an Alaska Native regional corporation, sued two shareholders who previously served on the board of directors. CIRI claimed Robert W. Rude and Harold F. Rudolph circulated materials that contained contained "false and materially misleading statements" about the current leadership and that the materials failed to include relevant information.

A federal judge initially ruled in CIRI's favor but Rude and Rudolph disputed federal jurisdiction under the Alaska Native Claims Settlement Act. On appeal, the 9th Circuit ruled against the shareholders, finding that ANCSA authorized federal courts to hear the kind of dispute brought by CIRI.

Turtle Talk has posted documents from the case, CIRI v. Rude.

9th Circuit Decision:
Cook Inlet Region, Inc v. Rude (August 20, 2012)