Peter HELIE, Timothy Haviland, Ned Lipes, Phil Litowitz, and Greg Smith, each individually and in a derivative capacity as shareholders of and on behalf of Old Palm Golf Club, Inc., a Florida not-for-profit corporation, Appellants, v. OLD PALM HOLDINGS L.P., a Delaware Limited Partnership, CDVII Old Palm LLC, a Delaware Limited Partnership, Clarion Development Ventures, III L.P., a Delaware Limited Partnership, Clarion Development III, LLC, a Delaware Limited Partnership, Clarion Partners LLC, a New York Limited Partnership, Triton Atlantic Partners, LLC, a Delaware Limited Partnership, James D. Motta, Gary Walker, Leslie Snavely, and Old Palm Golf Club, Inc. Appellees.