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LANDY v. UNITED FRUIT COMPANY

Civ. A. No. 314-69.

305 F.Supp. 254 (1969)

Eugene W. LANDY, individually and on behalf of all shareholders of United Fruit Company, and derivatively on behalf of United Fruit Company, Plaintiff, v. UNITED FRUIT COMPANY, a New Jersey corporation, A M K Corporation, a Delaware corporation, Donaldson, Lufkin & Jenrette, Inc., a New York corporation, Dreyfus Fund, Inc., a Maryland corporation, Connecticut General Life Insurance Company, a Connecticut corporation, Affiliated Fund, Inc., a Delaware corporation, Shareholders Trust of Boston, a Massachusetts corporation, and Insurance Security Fund, a Delaware corporation, Defendants.

United States District Court D. New Jersey.

As Amended December 2, 1969.

Attorney(s) appearing for the Case

Eugene W. Landy, Eatontown, N. J., for plaintiff.

Kasen, Schnitzer & Kraemer, by Morris Schnitzer, Newark, N. J., Milton Gould, New York City, for AMK Corp.

On Motion Of AMK Corporation For Summary Judgment OPINION

WORTENDYKE, District Judge:

Jurisdiction of this action is predicated upon § 27 of the Securities Exchange Act of 1934, [hereinafter Act] 15 U.S.C. § 78aa et seq. The plaintiff, a stockholder of United Fruit Company [hereinafter United] brings this action in behalf of that corporation to recover alleged secret profits pursuant to § 16(b) of the Act, 15 U.S.C. § 78p(b).

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