LAVINE v. GULF COAST LEASEHOLDS


122 A.2d 550 (1956)

Maurice LAVINE, Plaintiff, v. GULF COAST LEASEHOLDS, Inc., a Delaware corporation, Leason & Co., Inc., an Illinois corporation, Robert G. Behrman, Jr., Wallace M. Davis, Jr., Roy B. Kelly, Ricard R. Ohrstrom, William P. Swearingen, Harold J. Vance, W. R. Kerr and "John Doe" and "Richard Roe", Defendants.

Court of Chancery of Delaware, New Castle.

May 7, 1956.


Attorney(s) appearing for the Case

Irving Morris, of Cohen & Morris, Wilmington, and Edward Lee, New York City, for plaintiff.

Arthur G. Logan and Aubrey B. Lank of Logan, Marvel, Boggs & Theisen, Wilmington, for defendant, Gulf Coast Leaseholds, Inc., and individual defendants other than John Doe and Richard Roe.

Clair J. Killoran of Killoran & VanBrunt, Wilmington, for defendant Leason & Co., Inc.


SEITZ, Chancellor.

Plaintiff as a common stockholder of defendant Gulf Coast Leaseholds, Inc., ("Gulf") filed this action against, inter alia, Gulf and certain individuals who are directors of Gulf, charging certain illegal stock exchanges. We are now concerned only with his second cause of action and paragraph 16 of the third cause of action. Defendants, other than Doe, Roe, and Leason & Co., ("defendants") have moved for summary judgment dismissing the second...

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