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FRIEDMAN v. ALTOONA PIPE AND STEEL SUPPLY COMPANY

Nos. 71-1434 to 71-1437.

460 F.2d 1212 (1972)

Arlene A. FRIEDMAN v. ALTOONA PIPE AND STEEL SUPPLY COMPANY, Inc., a corporation, Appellant in No. 71-1434, and Fred A. Pechter. Appeal of Fred A. PECHTER, in No. 71-1435. Arlene A. FRIEDMAN v. ALPEN ASSOCIATES, INC., a corporation, Appellant in No. 71-1436, and Fred A. Pechter. Appeal of Fred A. PECHTER, in No. 71-1437.

United States Court of Appeals, Third Circuit.

Decided May 2, 1972.

Attorney(s) appearing for the Case

Roger C. Wiegand, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., for appellant.

Marcus Aaron, II, Berkman, Ruslander, Pohl, Lieber & Engel, Pittsburgh, Pa., for appellee.

Before SEITZ, Chief Judge, and ADAMS and HUNTER, Circuit Judges.

OPINION OF THE COURT

SEITZ, Chief Judge.

Essentially, this is an example of a not uncommon dispute between an "out" stockholder and an "in" stockholder of a closely held corporation. It manifests itself in two actions in the district court by the "out" stockholder. She seeks to compel an inspection of the corporate records under 15 P.S. § 1308, subd. B (1968), (Penna.), which provides:

"B. Every shareholder shall, upon written demand under...

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