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BANKERS SECURITIES CORPORATION v. KRESGE DEPARTMENT STORES

Civ. No. 381.

54 F.Supp. 378 (1944)

BANKERS SECURITIES CORPORATION v. KRESGE DEPARTMENT STORES, Inc.

District Court, D. Delaware.

February 29, 1944.

Attorney(s) appearing for the Case

Aaron Finger (of Richards, Layton & Finger), of Wilmington, Del., for plaintiff.

Arthur G. Logan (of Logan & Duffy), of Wilmington, Del., for defendant.

LEAHY, District Judge.

This is an action to enjoin Kresge Department Stores, Inc., from purchasing any of its outstanding preferred stock from S. S. Kresge, owner of a majority of the preferred stock. Plaintiff seeks a preliminary injunction.

Kresge is alleged to own a majority of the voting stock also and has named the present board of directors who, it is charged, is not independent and acts as directed by Kresge. It appears that on February 5, 1944, defendant...

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