MARCO v. BANK OF NEW YORK

No. 408, Docket 31860.

398 F.2d 628 (1968)

William MARCO, as Administrator, etc. of Harry Marco, Deceased, a stockholder of Blue Ridge Corporation, now Blue Ridge Mutual Fund, Inc., on behalf of himself and all other stockholders similarly situated, and on behalf of Blue Ridge Corporation, now Blue Ridge Mutual Fund, Inc. and Ridge Realization Corporation, as assignee of Blue Ridge Corporation, Plaintiff-Appellant, v. The BANK OF NEW YORK and Arthur H. Dean, as the Executors of the Estate of John Foster Dulles, Deceased, Sidney J. Weinberg, Waddill Catchings and Walter E. Sachs, Defendants-Appellees, Blue Ridge Corporation, now Blue Ridge Mutual Fund, Inc., and Ridge Realization Corporation, Defendants-Appellants.

United States Court of Appeals Second Circuit.

Decided June 26, 1968.


Attorney(s) appearing for the Case

Leo C. Fennelly, New York City (David M. Palley, New York City, on the brief), for plaintiff-appellant William Marco, as Administrator, etc., et al.

David W. Peck, New York City (Sullivan & Cromwell, New York City, on the brief), for defendants-appellees.

Fennelly, Douglas, Eagan, Nager & Voorhees, New York City, on the brief for defendants-appellants Blue Ridge Corporation and Ridge Realization Corporation.

Before LUMBARD, Chief Judge, and WATERMAN and MOORE, Circuit Judges.


LUMBARD, Chief Judge:

Our determination of this appeal turns on whether there is support in the record for Judge Herlands' dismissal, on the merits, in 1967, of the complaint in this stockholder's derivative action brought by William Marco against four former directors of Blue Ridge Corporation for their part in transactions which took place in 1930, 1931 and 1932. We affirm the judgment dismissing the complaint on the merits as there is ample support for the findings...

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