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TRYFOROS v. ICARIAN DEVELOPMENT COMPANY, S. A.

Nos. 74-1590, 74-1591 and 74-1676.

518 F.2d 1258 (1975)

Nicholas J. P. TRYFOROS and Bebe Spanos Ikaris, Plaintiffs-Appellants, and Vasillios G. Spanos, Appellant, v. ICARIAN DEVELOPMENT COMPANY, S. A., et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided July 3, 1975.

Rehearing Denied September 5, 1975.

Attorney(s) appearing for the Case

Eugene Gressman, Washington, D. C., Sean M. O'Hara, Los Angeles, Cal., for plaintiffs-appellants.

Seymour F. Simon, H. Reed Harris, Chicago, Ill., for defendants-appellees.

Before PELL, STEVENS and DOYLE, Circuit Judges.

STEVENS, Circuit Judge.

These consolidated appeals seek reversal of orders dismissing a shareholder derivative action with prejudice and awarding defendants a judgment of $92,500 for their attorneys' fees. The three appellants include two former shareholders of Icarian Development Company, S.A. ("Icarian"), a Panamanian corporation, who initiated this action back in 1968, and Vasillios G. Spanos, a resident of Greece, who, on March 11, 1974, responded to a notice...

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