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ALTMAN v. DERAMUS

No. 71-Civ. 1730.

342 F.Supp. 72 (1972)

Jerome John ALTMAN et al., Plaintiffs, v. William N. DERAMUS, III, et al., Defendants.

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

February 2, 1972.

Attorney(s) appearing for the Case

Wolf, Popper, Ross, Wolf & Jones, New York City, for plaintiffs, by Philip Jones, A. Arnold Gershon, Donald M. Ruby, New York City, of counsel.

Sullivan & Cromwell, New York City, for defendants Deramus and Frith, by Marvin Schwartz, Robert G. Sugarman, New York City, Watson, Ess, Marshall & Engass, Landon H. Rowland, Kansas City, Mo., of counsel.

Simpson, Thacher & Bartlett, New York City, for defendants Lee National Corp., Francis S. Levien and William G. Dillon, by Eleanor M. Fox, New York City, of counsel.

Walsh & Prisch, New York City, for defendant Kansas City Southern Industries, Inc., by Jerome K. Walsh, Jr., New York City, of counsel.

MEMORANDUM

CROAKE, District Judge.

On April 19, 1971 plaintiffs brought this shareholder derivative action on behalf of Kansas City Southern Industries, Inc. (KCSI) against certain of its officers and directors,1 Lee National Corporation (Lee), and two officers and directors of Lee who were members of the Board of Directors of KCSI (William G. Dillon and Francis S. Levien) for alleged violation of federal securities law and common...

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