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MAYER v. DEVELOPMENT CORPORATION OF AMERICA

Civ. A. Nos. 74-73, 74-98 and 74-106.

396 F.Supp. 917 (1975)

Henry D. MAYER, Plaintiff, v. DEVELOPMENT CORPORATION OF AMERICA, Defendant. Henry D. MAYER et al., Plaintiffs, v. DEVELOPMENT CORPORATION OF AMERICA, Defendant. Henry D. MAYER, Plaintiff, v. DEVELOPMENT CORPORATION OF AMERICA et al., Defendants.

United States District Court, D. Delaware.

March 21, 1975.

Attorney(s) appearing for the Case

Frank O'Donnell, O'Donnell & Hughes, P. A., Wilmington, Del., Edward C. German, LaBrum & Doak, Philadelphia, Pa., for plaintiffs.

Henry N. Herndon, Jr., Charles M. Oberly, III, and Morris L. Stoltz, II, Morris, James, Hitchens & Williams, Wilmington, Del., Richard B. Dannenberg, Lipper, Lowey & Dannenberg, New York City, for defendants.

OPINION AND ORDER

MURRAY M. SCHWARTZ, District Judge.

I. FACTUAL BACKGROUND

Plaintiffs, both shareholders and one of whom was a former director of the defendant corporation, have filed in this Court three actions alleging breach of various contracts existing between themselves and the corporation as well as concomitant violations by the corporation and its directors of Section 14 of the Securities Exchange Act of 1934 and the rules promulgated...

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