SCHEIN v. CHASEN

Nos. 81 and 82, Dockets 72-1373, 72-1375.

478 F.2d 817 (1973)

Jacob SCHEIN and Marvin H. Schein, Plaintiffs-Appellants, v. Melvin CHASEN et al., Defendants-Appellees. Antone F. GREGORIO, Individually and as representative of all persons similarly situated as a class under Rule 23, F.R.C.P., Plaintiff-Appellant, v. LUM'S, INC., et al., Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided May 10, 1973.


Attorney(s) appearing for the Case

Donald N. Ruby, Wolf, Popper, Ross, Wolf & Jones, New York City, for Schein and Gregorio.

Schlifkin & Berman, Chicago, Ill., for Gregorio.

Laura Banfield, David Hartfield, Jr., White & Case, New York City, for Simon.

James J. Hagan, Simpson, Thacher & Bartlett, New York City, for Lehman Brothers.

James M. Bergen, Allan R. Freedman, Donovan, Leisure, Newton & Irvine, New York City, for Investors Diversified Services, Inc., Investors Variable Payment Fund, Inc., and IDS New Dimensions Fund, Inc.

Before WATERMAN, SMITH and KAUFMAN, Circuit Judges.


WATERMAN, Circuit Judge:

Plaintiffs-appellants are stockholders in Lum's, Inc., a Florida corporation primarily engaged in restaurant franchising. Invoking the diversity jurisdiction of the court, they sued derivatively in the Southern District of New York alleging that the defendants were jointly and severally liable to Lum's for actionable wrongs which the defendants had committed against Lum's. The individual defendants were Melvin Chasen, a resident of Florida...

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