Nos. 74-2030, 74-2031.

521 F.2d 153 (1975)

Meyers L. GIRSH et al., Plaintiffs-Appellees, v. Robert S. JEPSON, Jr., et al., Defendants-Appellees, Lynn Sara Frackman, Objector-Appellant. Robert HELFAND, suing derivatively in the right and on behalf and for the benefit of New America Fund, Inc., Plaintiff-Appellee, v. NEW AMERICA FUND, INC., et al., Defendants-Appellees, Lynn Sara Frackman, Objector-Appellant.

United States Court of Appeals, Third Circuit.

Decided July 25, 1975.

Attorney(s) appearing for the Case

David Berger, Leonard Barrack, Gerald J. Rodos, Paul J. McMahon, Edward H. Rubenstone, Philadelphia, Pa., and Richard D. Greenfield, Bala Cynwyd, Pa., for plaintiffs-appellees Meyers Girsh and others.

Berthold H. Hoeniger, Arthur N. Abbey, New York City, and S. Regen Ginsburg, Philadelphia Pa., for plaintiff-appellee Robert Helfand.

John G. Harkins, Jr., Jeffery Charles Hayes, Patricia L. Freeland, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for defendant-appellee Price Waterhouse & Co.

John P. O'Dea, Daniel Mungall, Jr., Stradley, Ronon, Stevens & Young, Philadelphia, Pa., Charles E. Rickershauser, Jr., Robert E. Denham, Munger, Tolles, Hills & Rickershauser, Los Angeles, Cal., for defendants-appellees William K. Gumpert, Richard B. Leng, Joseph D. Carrabino, and New America Fund, Inc.; Charles T. Munger, Munger, Tolles, Hills & Rickershauser, Los Angeles, Cal., of counsel.

Arthur T. Susman, Thomas R. Meites, Chicago, Ill., Harry R. Kozart, Philadelphia, Pa., for objector-appellant; Prins, Flamm & Susman, Ltd., Chicago, Ill., Weissman, Kozart & Criden, Philadelphia, Pa., of counsel.

Before VAN DUSEN, ADAMS and GARTH, Circuit Judges.


GARTH, Circuit Judge.

On this appeal, Petitioner Frackman challenges the district court's order dismissing her objections and approving a settlement agreement. The district court, in its order of June 25, 1974, approved the settlement of a class and derivative action alleging violations of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b), the Investment Companies Act of 1940, 15 U.S.C. § 80a-33(b) and 35, the Investment...


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