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YOUNG v. KATZ

No. 30373.

447 F.2d 431 (1971)

C. Robert YOUNG et al., Plaintiffs-Appellees, National Bankers Life Insurance Co., et al., Defendants-Appellees, v. Lawrence G. KATZ et al., Movants-Appellants.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied and Rehearing Denied August 27, 1971.

Attorney(s) appearing for the Case

Philip A. Masquelette, Houston, Tex., for L. Katz and Norman Ross.

Lewis F. Pennock, Ben H. Schleider, Jr., Houston, Tex., for Annie Katz and Maurice Krupp; Dillingham & Schleider, Houston, Tex., of counsel.

Kleber Miller, Fort Worth, Tex., for appellees Bagg and Turnbow.

William P. Fonville, Dallas, Tex., for appellee Paul Cook.

Frank Briscoe, Houston, Tex., for appellee W. D. Haden, II.

Frank G. Newman, Rodney D. Moore, Newman, Moore, Peterson & Frazer, Dallas, Tex., for appellees, C. Robert Young, H. W. G. Bishop, Johnny Wright and Houston L. Goodspeed.

Gaynor Kendall, Kendall, Koch, Randel, Finch & Osborn, Austin, Tex., for appellees, Frank W. Sharp, Sharpstown Realty Co. and Sharpstown State Bank.

E. Eugene Palmer, Carr, Osorio, Palmer, Dickson, Long & Coleman, Austin, Tex., for appellee, National Bankers Life Ins. Co.

Jerry G. Hill, Pinedo & Hill, Houston, Tex., for appellees, Olympic Life Ins. Co., Tom W. Arnold, W. H. Hinton, M. K. Peterson, C. A. Pickett, Joe B. Ridings, B. F. Clifton, Fausto Yturria, Jr., Carl Meek and Allan Wolk.

Before COLEMAN, SIMPSON, and RONEY, Circuit Judges.

Rehearing Denied and Rehearing En Banc Denied August 27, 1971.

COLEMAN, Circuit Judge.

In April, 1968, Frank W. Sharp acquired 54 percent of the stock of National Bankers Life Insurance Company of Dallas, Texas. About the same time, W. D. Haden, Sharp's son-in-law, obtained 54 percent of the stock of Olympic Life Insurance Company of Fort Worth, Texas.

In September, 1969, Olympic announced a proposal to merge with National Bankers Life. Security holders...

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