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TOWNSEND CORPORATION OF AMERICA v. DAVIDSON

Civ. A. No. 72-62.

222 F.Supp. 1 (1963)

TOWNSEND CORPORATION OF AMERICA, Plaintiff, v. Clinton DAVIDSON et al., Defendants.

United States District Court D. New Jersey.

September 16, 1963.

Attorney(s) appearing for the Case

Joseph Schildkret, New York City, for plaintiff; Martin Horwitz and Edmund H. Kerr, New York City, of counsel.

O'Mara, Schumann, Davis & Lynch, by James A. Hession, Jersey City, N. J., for defendants A. C. Wedemeyer and W. F. Rockwell; Cahill, Gordon, Reindel & Ohl, by Robert G. Zeller, Thomas E. Weesner and Robert L. Fonner, New York City, of counsel.

Riker, Danzig, Marsh & Scherer, by Charles Danzig, Newark, N. J., for defendant C. F. Smith; Sullivan & Cromwell, by Alfred Jaretzki, Jr., Marvin Schwartz, Edward W. Keane and E. Roger Frisch, New York City, of counsel.

AUGELLI, District Judge.

In this action against a number of its former directors and others, plaintiff Townsend Corporation of America (TCA) seeks, inter alia, an accounting for all damages claimed to have been sustained by it as a result of the several transactions alleged in the 11 counts of the complaint. The director-defendants are charged with violations of the Investment Company Act of 1940 (Act), 15 U.S.C.A. § 80a-1, et seq., and breaches of common law...

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