ESCOTT v. BARCHRIS CONSTRUCTION CORPORATION

No. 62 Civ. 3539.

283 F.Supp. 643 (1968)

Barry ESCOTT et al., on behalf of themselves and in a representative capacity on behalf of all other present and former holders of 5½% subordinated debentures (due May 1, 1976) of the BarChris Construction Corporation, similarly situated, Plaintiffs, v. BARCHRIS CONSTRUCTION CORPORATION et al., Defendants.

United States District Court S. D. New York.

March 29, 1968.


Attorney(s) appearing for the Case

Garey & Garey, New York City, for plaintiffs, Wm. Francis Corson, Allan K. Peckel, New York City, of counsel.

Alex L. Rosen, New York City, for defendant, BarChris Construction Corp.

Davis, Polk & Wardwell, New York City, for defendants Drexel & Co., and others, Ralph M. Carson, Thomas P. Griesa, New York City, of counsel.

Milbank, Tweed, Hadley & McCloy, New York City, Attorneys for defendant, Peat, Marwick, Mitchell & Co., A. Donald MacKinnon, Andrew J. Connick, New York City, of counsel.

Olwine, Connelly, Chase, O'Donnell & Weyher, New York City, for defendant, Grant, John Logan O'Donnell, James E. Tolan, New York City, of counsel.

Sims & Friedman, New York City, for defendants, Vitolo, Russo and Pugliese, Theodore R. Schreier, New York City, of counsel.

Emmet, Marvin & Martin, New York City, for defendants, Kircher and Trilling, James J. Higginson, New York City, of counsel.

Schoengold & Sporn, New York City, for defendant, Birnbaum, Max Schoengold, New York City, of counsel.

Ferris, Bangs, Davis, Trafford & Syz, New York City, for defendant, Auslander, Lyon Boston, New York City, of counsel.

Mullane & Moukad, New York City, for defendant, Rose, Joseph E. Moukad, New York City, of counsel.


OPINION

McLEAN, District Judge.

This is an action by purchasers of 5½ per cent convertible subordinated fifteen year debentures of BarChris Construction Corporation (BarChris). Plaintiffs purport to sue on their own behalf and "on behalf of all other and present and former holders" of the debentures. When the action was begun on October 25, 1962, there were nine plaintiffs. Others were subsequently permitted to intervene. At the time of the trial, there...

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