SECURITIES & EXCHANGE COM'N v. TEXAS GULF SULPHUR CO.

No. 65 Civ. 1182.

331 F.Supp. 671 (1971)

SECURITIES & EXCHANGE COMMISSION, Plaintiff, v. TEXAS GULF SULPHUR COMPANY, Defendant.

United States District Court, S. D. New York.

September 1, 1971.


Attorney(s) appearing for the Case

David Ferber, Frank E. Kennamber, Jr., Robert E. Kushner, Stuart A. Morse, S. E. C., Washington, D.C., for plaintiff.

White & Case, by Orison S. Marden, P. B. Konrad Knake, New York City, for defendant Kline.


MEMORANDUM AS TO REMEDY WITH RESPECT TO DEFENDANT HAROLD B. KLINE

BONSAL, District Judge.

On February 20, 1964, the Stock Option Committee of the Board of Directors of Texas Gulf Sulphur Company (TGS) authorized the giving of a stock option to defendant Harold B. Kline to purchase 4300 shares of TGS common stock at a price of $23.8125 a share, which stock option was later issued to Mr. Kline. Mr. Kline was present at the meeting of the Stock Option Committee...

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