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Hawkins brought a shareholder's derivative action, but that action was dismissed 'with prejudice' because P failed to post a bond for security as required under New York statute. Saylor (P) brought the same action as Hawkins. Lindsley (D) moved for summary judgment on the ground that the Hawkins' dismissal operated as res judicata barring P's claim. The district court granted the motion and P appealed.

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