GRAND RAPIDS --A three-judge Michigan Court of Appeals panel ruled Friday that Alticor Inc. President Doug DeVos, Chairman Steve Van Andel and former President Dick DeVos did not cheat shareholders in a former Amway Corp. Asian subsidiary.

Three former stockholders had an opportunity to recover their presumed losses and failed to do so, according to the ruling issued by judges Richard Bandstra, Alton Davis and David Sawyer. Shareholders neglected to pursue the remedy available to them through Bermuda Supreme Court, where Amway Asia Pacific Ltd. was incorporated, according to the ruling.

View the Amway review