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C. LEONARDT IMPROVEMENT CO. v. SOUTHDOWN, INC.

Civ. No. 69-2563.

313 F.Supp. 1146 (1970)

C. LEONARDT IMPROVEMENT CO., a Nevada corporation; Southwestern Cement Associates, a California corporation; Southwestern Portland Cement Company, a West Virginia corporation; Felix X. McGinnis, Jr. and Carl L. McGinnis, individually and on behalf of certain stockholders of plaintiff C. Leonardt Improvement Co., a Nevada corporation; Walter D. Hege, individually and on behalf of the minority stockholders of Southwestern Cement Associates, a California corporation; Robert H. Fielding, individually and on behalf of the minority stockholders of Southwestern Portland Cement Company, a West Virginia corporation, Plaintiffs, v. SOUTHDOWN, INC., a Louisiana corporation, et al., Defendants.

United States District Court, C. D. California.

February 9, 1970.

Attorney(s) appearing for the Case

Overton, Lyman & Prince, Carl J. Schuck, Wayne H. Knight, Ernest E. Johnson, Los Angeles, Cal., for certain plaintiffs.

William I. Edlund, Pillsbury, Madison & Sutro, San Francisco, Cal., Lawrence T. Lydick, Adams, Duque & Hazeltine, Los Angeles, Cal., for Southdown, Inc.

Lynn D. Crandall, Crandall & Whitesell, Los Angeles, Cal., for Gloria Powell, Edward W. Austin, William P. Brophy, Jr.

J. Philip Nevins, Lawler, Felix & Hall, Los Angeles, Cal., for Security Pac. Nat. Bank.

Joseph Thompson, Beverly Hills, Cal., for Union Bank, Jane T. Powell and Guardian of Estates of Robert A. Brophy, Michael F. Brophy, Amy F. Brophy, Mary Ann Brophy and Nancy T. Brophy.

McCutchen, Doyle, Brown & Enersen, Albert J. Moorman, San Francisco, Cal., for The Fund American Retirement Plan and the Board of Trustees of the Leland Stanford, Junior University.

ORDER DENYING PRELIMINARY INJUNCTION

WILLIAMS, District Judge.

This action involves the take-over attempts of a closely-held family corporate enterprise by Southdown, Inc., a conglomerate. The target company C. Leonardt Improvement Co., (CLI) has filed its complaint alleging that Southdown and certain CLI stockholders conspired together to defraud other stockholders of CLI by selling control to Southdown; that...

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