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ROGERS v. AMERICAN CAN COMPANY

Nos. 13493-13495.

305 F.2d 297 (1962)

Alexander ROGERS, on Behalf of Himself and All Other Stockholders of Metal & Thermit Corporation, Appellee, v. AMERICAN CAN COMPANY, a Corporation, Charles J. Beasley, Robert G. Fuller, H. E. Martin, Cornelius W. Middleton, William P. Palmer, Walton S. Smith, William C. Stolk, Russell C. Taylor and Metal & Thermit Corporation, a Corporation, American Can Company, Metal & Thermit Corporation, Charles J. Beasley and Walton S. Smith, Appellants.

United States Court of Appeals Third Circuit.

Decided June 15, 1962.

As Amended June 26, 1962.

Attorney(s) appearing for the Case

Emory C. Risley, Newark, N. J. (Stryker, Tams & Horner, Newark, on the brief), for Metal & Thermit Corp.

Alfred C. Clapp, Newark, N. J. (Clapp & Eisenberg, Newark, N. J., Robert P. Gorman, John B. M. Frohling, Newark, N. J., on the brief), for Beasley and Smith.

Donald B. Kipp, Newark, N. J. (Pitney, Hardin & Ward, Newark, N. J., William P. Reiss, Newark, N. J., Clyde A. Szuch, Maplewood, N. J., on the brief), for American Can Co.

Charles J. Milton, Jersey City, N. J., for appellee.

Before GOODRICH, STALEY and FORMAN, Circuit Judges.

FORMAN, Circuit Judge.

This is a stockholder's derivative action brought by Alexander Rogers, as plaintiff in the United States District Court for the District of New Jersey for himself and other similarly situated stockholders of Metal & Thermit Corporation (M & T), a New Jersey corporation, on behalf of that corporation against American Can Company (Canco), likewise a New Jersey corporation, eight individuals,1 Charles J. Beasley...

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