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WOLF v. BARKES

No. 434, Docket 29488.

348 F.2d 994 (1965)

Miriam J. WOLF, Plaintiff-Appellant, v. Curtis BARKES et al., Defendants-Appellees.

United States Court of Appeals Second Circuit.

Decided June 21, 1965.

Attorney(s) appearing for the Case

Paul L. Ross, New York City (Wolf, Popper, Ross, Wolf & Jones, Henry H. Wolf, New York City, of counsel), for appellant.

Peter P. Kenny, New York City (Bernard Buchwald, New York City), for appellees Kantor and Blair.

Arnold G. Fraiman, New York City (Dewey, Ballantine, Bushby, Palmer & Wood, Edward N. Sherry, New York City, of counsel), for appellee Curtis Publishing Co.

David R. Hyde, New York City (Cahill, Gordon, Reindel & Ohl, New York City), for appellees Culligan and Mills.

Before WATERMAN, FRIENDLY and ANDERSON, Circuit Judges.

FRIENDLY, Circuit Judge:

Appellant's contention is that the pendency in a federal court of a stockholder's derivative action challenging arrangements between a corporation and its officers deprives the corporation and officers of power to make any out-of-court settlement — that is, one not requiring action by the court in the derivative suit — and that once the suit has been brought, there must be notice to stockholders and court approval as provided...

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