Harvey L. WELLS and Harry J. Albertsen, on behalf of themselves, and others similarly situated, Appellants,
v.
J. C. PENNEY COMPANY, a corporation, and The Chase Manhattan Bank, a corporation, successor in interest to the Chase National Bank of the City of New York, Appellees.
United States Court of Appeals Ninth Circuit.https://leagle.com/images/logo.png
November 20, 1957.
November 20, 1957.
Attorney(s) appearing for the Case
King, Miller, Anderson, Nash & Yerke, Ralph H. King, Frederic A. Yerke, Jr., Paul R. Meyer, Portland, Or., for appellants.
Koerner, Young, McColloch & Dezendorf, Clarence J. Young, Wayne Hillard, Portland, Or., Pell, Butler, Curtis & LeViness, W. H. Dannant Pell, Henry Stone, C. Robert Roll, New York City, for appellees.
Before STEPHENS, Chief Judge, BARNES, Circuit Judge, and LINDBERG, District Judge.
United States Court of Appeals Ninth Circuit.
LINDBERG, District Judge.
Appellants1 brought this action against appellees attacking the J. C. Penney Company Profit-Sharing Retirement Plan (for Management Staff), hereinafter referred to as "Plan" on the ground that such Plan so far as it pertains to the awarding of capital stock of the J. C. Penney Company, hereinafter referred to as "Penney", is illegal and void and of no effect since it is, in effect a wagering contract, lottery...
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