SNEIDER v. TRANSCONTINENTAL & WESTERN AIR

Civil Action No. 1144.

79 F.Supp. 339 (1948)

SNEIDER v. TRANSCONTINENTAL & WESTERN AIR, Inc.

District Court, D. Delaware.

August 24, 1948.


Attorney(s) appearing for the Case

Howard Duane, of Wilmington, Del., and Abraham L. Pomerantz and Leonard I. Schreiber, of Pomerantz, Levy, Schreiber & Haudek, all of New York City, for plaintiff.

Aaron Finger, of Richards, Layton & Finger, all of Wilmington, Del., and Gerald B. Brophy, Leonard P. Moore, and George A. Spater, of Chadbourne, Wallace Parke & Whiteside, all of New York City, for defendant.


LEAHY, District Judge.

Observations and Conclusions.

Plaintiff, on the basis of the pleadings and affidavits, urges the amendment modifying the agreement requiring Hughes Tool Company to take the stock at market value was fraudulent, because it results in an unjust benefit to Hughes at the expense of the remaining shareholders and because this is particularly bad, here, where the directors, who negotiated the agreement, were controlled by Hughes. Plaintiff...

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