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HOMEWOOD v. STANDARD POWER & LIGHT CORPORATION

No. 229.

55 F.Supp. 100 (1944)

HOMEWOOD et al. v. STANDARD POWER & LIGHT CORPORATION et al.

District Court, D. Delaware.

April 29, 1944.

Attorney(s) appearing for the Case

Ivan Culbertson, of Wilmington, Del., and Maurice J. Dix, of New York City, for plaintiffs.

Howard Duane, of Wilmington, Del., and H. Preston Coursen, of New York City, for Standard Power & Light Corporation.

Caleb S. Layton, of Wilmington, Del., for H. M. Byllesby & Co.

Edwin D. Steel, of Wilmington, Del., for Bancamerica Corporation.

Clair J. Killoran, of Wilmington, Del., for A. C. Allyn & Co.

John J. Morris, Jr., U.S. Atty., of Wilmington, Del., and David Kadane, of Philadelphia, Pa., for the Securities and Exchange Commission.

LEAHY, District Judge.

This derivative stockholders' action started in September, 1941, on behalf of Standard Power and Light Corporation against certain investment bankers who allegedly illegally controlled the corporation to its loss. Answer was filed. The action has since been dormant. Now, plaintiffs seek to file a supplemental complaint — which defendants oppose — charging Standard with doing no business, as a useless holding company

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