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SCHLESINGER v. WALLACE

No. 73-1914.

513 F.2d 65 (1975)

Milton SCHLESINGER et al., Plaintiffs, v. Robert H. WALLACE et al., Defendants. Milford E. HENSLEY et al., Plaintiffs-Appellants, v. Jack E. LOVE et al., Defendants-Appellees. Milford E. HENSLEY et al., Plaintiffs-Appellants, v. Claude E. SHELL et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing and Rehearing Denied July 17, 1975.

Attorney(s) appearing for the Case

J. Vernon Patrick, Jr., A. Berkowitz, Michael L. Edwards, Birmingham, Ala., for Schlesinger.

W. Gerald Stone, Bessemer, Ala., for Bookout.

David J. Vann, pro se.

Alan W. Heldman, Birmingham, Ala., Joe H. Reynolds, Houston, Tex., Jack Crenshaw, Montgomery, Ala., for defendants-appellees.

Eugene J. Pitman, Houston, Tex., Hobart H. McWhorter, Jr., Birmingham, Ala., for Cowling.

Before GODBOLD and MORGAN, Circuit Judges, and BOOTLE, District Judge.

Rehearing and Rehearing En Banc Denied July 17, 1975.

GODBOLD, Circuit Judge:

This appeal is by plaintiffs from a judgment for numerous defendants in consolidated shareholder derivative suits.1 The litigation concerns intricate transactions touching two Alabama insurance companies, Alabama National Life Insurance Company and its parent Old National Insurance Company, both now in state receivership in Alabama on petition of the...

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