TRAYLOR v. MARINE CORPORATION

No. 70-C-714.

328 F.Supp. 382 (1971)

Ferris E. TRAYLOR and Merchants National Bank & Trust Company of Indianapolis, as trustee for the following, under the following agreements with Ferris E. Traylor: For Charles Vaughan Traylor u/a dated December 30, 1959, for Ferris James Traylor u/a dated December 30, 1959, for Marjorie Vaughan Traylor u/a dated December 30, 1959, for Mary Vaughan Traylor u/a with Ferris E. Traylor dated December 30, 1959, and for the children of Ferris E. Traylor u/a dated February 11, 1960, jointly and severally, as respectively, an individual and such trustee, and on behalf of themselves and, in addition, on behalf of themselves and of all holders on or about December 21, 1964, of shares of Common Stock of The Polaris Corporation similarly situated (except the defendants and any persons who aided and abetted any of the defendants in doing any of the wrongs complained of herein), Plaintiffs, v. The MARINE CORPORATION et al., Defendants.

United States District Court, E. D. Wisconsin.

May 21, 1971.


Attorney(s) appearing for the Case

Porter, Purtell & Purtell by Wm. S. Porter, Milwaukee, Wis., for plaintiffs; Vaughan & Vaughan, Lafayette, Ind., of counsel.

Cannon, McLaughlin, Herbon & Staudenmaier by L. William Staudenmaier, Milwaukee, Wis., Lindquist & Vennum, Minneapolis, Minn., for Roger G. Minahan and A. Wm. Asmuth, Executors of the Estate of Malcolm Whyte, Richard K. Sell, F. S. Cornell, Fuqua Industries, Inc., William C. Coleman, Sr., Allen M. Slichter and Erwin A. Gaumnitz.

Gibbs, Roper & Fifield by Richard S. Gibbs, Milwaukee, Wis., for Marine Corp., Marine National Exchange Bank, 111 East Corp. and Eliot G. Fitch.

Raleigh Woolf, Milwaukee, Wis., for Marine National Exchange Bank and Marie B. Callos, Executors of the Estate of George Callos.


DECISION and ORDER

MYRON L. GORDON, District Judge.

In a carefully drawn complaint, the plaintiffs charge that through the fraudulent acts of certain designated defendants, the corporate assets of Polaris Corporation were sold under terms which were detrimental to the plaintiffs as minority stockholders. The defendants have filed a number of motions which this decision will consider; they include motions to dismiss, to strike the complaint, to quash process...

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