GERSTLE v. GAMBLE-SKOGMO, INC.

No. 64-C-1253.

298 F.Supp. 66 (1969)

Gustave GERSTLE and Muriel Silverstein, Fannie Davenman, Stanley Nathanson, Irwin Kamin and Harold Berliner, d/b/a Miths & Company, M. Martin Nathanson, Raoul L. Rousseau and Wilma L. Rousseau and I. Stanley Kriegel, Plaintiffs, v. GAMBLE-SKOGMO, INC., Defendant.

United States District Court E. D. New York.

March 7, 1969.


Attorney(s) appearing for the Case

Emanuel Becker, New York City, for plaintiffs.

Lord, Bissell & Brook, Stephen A. Milwid, David M. Gooder, Charles H. Weiland, R. Michael Stillwagon, Chicago, Ill., Holtzmann, Wise & Shepard, James W. Deer, New York City, for defendant (Edmund H. H. Caddy, New York City, of counsel).


BARTELS, District Judge.

This is a class suit by minority stockholders of former General Outdoor Advertising Co., Inc. (General) against Gamble-Skogmo, Inc. (Skogmo), seeking an accounting and restitution arising out of the merger of General into Skogmo. The claim is predicated upon various grounds including breach of fiduciary obligations by Skogmo as a majority stockholder of General, illegality of the merger and misrepresentations contained in the proxy material...

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