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LEVITT v. JOHNSON

Civ. A. No. 63-689.

222 F.Supp. 805 (1963)

S. Harold LEVITT, Executor of the Estate of Martin M. Levitt, deceased v. Edward C. JOHNSON, 2d, et al.

United States District Court D. Massachusetts.

October 21, 1963.

Attorney(s) appearing for the Case

Benedict Wolf, New York City, argued the motion, and S. Roy Remar, Boston, Mass., of counsel, for plaintiff.

Edward B. Hanify, Boston, Mass., argued the motion, and Ropes & Gray, Joseph P. Rooney and Gaston, Snow, Motley & Holt, Boston, Mass., for corporate defendants (other than Fidelity Capital Fund) and defendant Johnson.

James D. St. Clair and Hale & Dorr, Boston, Mass., for individual defendants other than defendant Johnson.

Sumner H. Babcock and Bingham, Dana & Gould, Boston, Mass., for defendant Fidelity Capital Fund.

WYZANSKI, District Judge.

This is a stockholder's derivative action seeking to prosecute on behalf of a Massachusetts corporation, Fidelity Capital Fund, Inc. (hereinafter called "Fund") a claim that its directors and others injured the corporation by violations of the federal Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., (hereinafter called the Act), and by waste of corporate assets in violation of the law of the Commonwealth of Massachusetts. Most...

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