DOWNING v. HOWARD

Civil Action No. 457.

68 F.Supp. 6 (1946)

DOWNING v. HOWARD et al.

District Court, D. Delaware.

As Amended October 18, 1946.


Attorney(s) appearing for the Case

William H. Bennethum, of Wilmington, Del., and John F. Davidson and Ralph Bernstein, both of New York City (Marvel & Morford, of Wilmington, Del., of counsel), for complainant.

Caleb S. Layton, of Wilmington, Del., and Ralph M. Carson, of New York City (Richards, Layton & Finger, of Wilmington, Del., Thomas B. K. Ringe, of Philadelphia, Pa., and Allen T. Klots, Orison S. Marden, and Neal M. Welch, all of New York City, of counsel), for defendants George Whitney et al.

William S. Potter, of Wilmington, Del. (Southerland, Berl & Potter, of Wilmington, Del., and Whitman, Ransom, Coulson & Goetz, Simpson, Thacher & Bartlett, Bigham, Englar, Jones & Houston, Blair & Ogden, Edwin Foster Blair, Robert I. Stevenson, and LeBoeuf & Lamb, all of New York City, of counsel), for defendants George H. Howard et al.

William Prickett, of Wilmington, Del., and Horace R. Lamb, of New York City (LeBoeuf & Lamb and Thomas P. Cook, all of New York City, of counsel), for defendants Edna Rogers Carlisle and Randall J. LeBoeuf, Jr., executors of Floyd L. Carlisle, deceased.

Caleb S. Layton, of Wilmington, Del., and Sidney W. Davidson, of New York City (Richards, Layton & Finger, of Wilmington, Del., of counsel), for defendants Francis Skiddy Von Stade, executor, and Guaranty Trust Co. of New York, trustee, under will of Charles Steele, deceased.

John J. Morris, Jr., of Wilmington, Del., for defendant United Corporation.


LEAHY, District Judge.

The major question for decision is whether this action is simply a traditional stockholder's derivative suit based upon a breach of fiduciary duties by officers and directors acting under an unlawful conspiracy to waste assets with other defendants or whether this action is brought to enforce any duty or liability created under the Public Utility Holding Company Act of 1935. This is the first time...

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