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IN RE BROWN COMPANY SECURITIES LITIGATION

M. D. L. No. 67; Civ. A. No. 70 Civ. 5371.

355 F.Supp. 574 (1973)

In re BROWN COMPANY SECURITIES LITIGATION. J. Wolfe GOLDEN and Fannette P. Stone, etc., Plaintiffs, v. GULF & WESTERN INDUSTRIES, INC., Brown Company, et al., Defendants. Raymond W. CROMER & Marybelle K. Cromer, Plaintiffs, v. GULF & WESTERN INDUSTRIES, INC., Brown Company, et al., Defendants. Michael SHAPIRO, etc., Plaintiff, v. GULF & WESTERN INDUSTRIES, INC., Brown Company, et al., Defendants.

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

January 22, 1973.

Attorney(s) appearing for the Case

Paul Bernstein, Ronald Litowitz, and Max Berger, of Kriendler & Kriendler, New York City, Robert Jarvis, of Beck, McGinnis & Jarvis, Pittsburgh, Pa., David Berger, P.A., Philadelphia, Pa., for plaintiffs.

Roy L. Reardon and James G. Greilsheimer, of Simpson, Thacher & Bartlett, New York City, for Gulf & Western Industries, Inc.

Leon Silverman and Matthew Gluck, of Fried, Frank, Harris, Shriver & Jacobson, New York City, for defendant Brown Co.

Robert Block, of Pomerantz, Levy, Haudek & Block, New York City, for individual defendants.

OPINION WITH RESPECT TO PROPOSED SETTLEMENT

ALVIN B. RUBIN, District Judge:

The parties to these consolidated class actions have agreed to settle the claims of those who were formerly preferred stockholders of Brown Company ("Brown") arising out of an exchange of their stock for debentures and warrants on June 9, 1970. Notice of the proposed settlement was given to all members of the class. Judicial approval...

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