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ELGIN NAT. INDUS. v. ZALE CORP.

71 Misc.2d 468 (1972)

Elgin National Industries, Inc., et al., Plaintiffs, v. Zale Corporation et al., Defendants.

Supreme Court, Special Term, New York County.

August 28, 1972

Attorney(s) appearing for the Case

Richard B. Cooper for defendants. London, Buttenwieser & Chalif (Franklin S. Bonem of counsel), for Elgin National Watch Company, defendant. Taylor, Ferencz & Simon (Kenneth Simon of counsel), for Henry M. Margolis and another, plaintiffs.

JACOB MARKOWITZ, J.

This stockholders' derivative action under section 720 of the Business Corporation Law was instituted to enjoin defendants from further claimed exploitation of Elgin National Watch Company (hereinafter Elgin Watch), to declare certain agreements made by Elgin Watch null and void, to remove certain of the individual defendants from office as directors of Elgin Watch, and to direct the defendants...

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