CATHEDRAL ESTATES v. TAFT REALTY CORPORATION

Civ. A. 3016.

157 F.Supp. 895 (1954)

CATHEDRAL ESTATES, Inc., Irving Zauderer, Allenhurst Realties, Inc., Robert Linker, Lillian Linker, Helen Kimmelman, Frances Zauderer, Anna Haberman, Charles Kimmelman and Milton A. Kimmelman, copartners doing business under the firm name and style of Charles and Milton A. Kimmelman individually and as holders of Voting Trust Certificates representing stock of The Taft Realty Corporation, suing on behalf of themselves and all other holders of Voting Trust Certificates of The Taft Realty Corporation, and for the benefit of said corporation, Plaintiffs, v. The TAFT REALTY CORPORATION, Hotel Taft, Inc.; Samuel L. Lebis, William L. Hadden and G. Harold Welch, as Voting Trustees of the stock of The Taft Realty Corporation; and Samuel L. Lebis and Ruth Lebis individually, Defendants.

United States District Court D. Connecticut.

On Motion For New Trial, etc., November 17, 1954.

On Motion For Judgment March 22, 1957.


Attorney(s) appearing for the Case

Pullman, Comley, Bradley & Reeves, Bridgeport, Conn. (William Reeves, John S. Barton, Bridgeport, Conn., of counsel), Sylvester & Harris, New York City (Sidney G. Kingsley, New York City, of counsel), for plaintiffs.

Hugh Meade Alcorn, Jr., R. Graeme Smith, Henry P. Bakewell, Hartford, Conn., for defendants.


J. JOSEPH SMITH, Chief Judge.

This is a stockholders derivative action seeking to set aside the sale and conveyance of the Hotel Taft in New Haven, and seeking to obtain transfer to the old hotel corporation of shares of its stock claimed to have been purchased in usurpation of its corporate opportunity to purchase them, and for an accounting.

The principal issues on the first count are the value of the hotel property on the date of sale, January 20, 1950...

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