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FRANKLIN v. BLAYLOCK

218 F.Supp. 261 (1963)

Milford FRANKLIN, Plaintiff, v. R. C. BLAYLOCK et al., Defendants.

United States District Court S. D. New York.

April 8, 1963.

Attorney(s) appearing for the Case

Wolf, Popper, Ross, Wolf & Jones, New York City, for plaintiffs; Benedict Wolf, New York City, of counsel.

Davis Polk Wardwell Sunderland & Kiendl, New York City, for individual defendants; Lawrence E. Walsh, New York City, of counsel.

Shearman & Sterling, New York City, for defendants Ling-Temco-Vought, Inc. and Chance Vought Corp.; John A. Wilson, New York City, of counsel.

McLEAN, District Judge.

This is the first of a series of four actions by stockholders of Ling-Temco-Vought, Inc. ("Ling-Temco"), pursuant to Section 16(b) of the Securities Exchange Act of 1934 (15 U.S.C. § 78p(b)) to recover short-swing profits allegedly made by officers, directors and an alleged ten per cent stockholder of Chance Vought Corporation ("Chance Vought"), and by officers and directors of Ling-Temco. Defendants have moved in each action under 28...

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