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SANDERS v. LEVY

Nos. 743, 744, 745, Dockets 75-7608, 75-7610, 75-7611.

558 F.2d 636 (1976)

Irving SANDERS, Plaintiff-Appellee, v. Leon LEVY et al., Defendants-Appellants. Egon TAUSSIG, Plaintiff-Appellee, v. Sidney M. ROBBINS et al., Defendants-Appellants. Michael SHAEV and Rita Shaev, Plaintiffs-Appellees, v. Eric HAUSER et al., Defendants-Appellants.

United States Court of Appeals, Second Circuit.

Decided June 30, 1976.

Submitted October 22, 1976.

On Rehearing Decided June 22, 1977.

Attorney(s) appearing for the Case

Gerald Gordon, New York City (Weisman, Celler, Spett, Modlin & Wertheimer, Milton C. Weisman, New York City, of counsel), for defendant-appellant Oppenheimer Fund, Inc.

Leon H. Tykulsker, New York City (Guggenheimer & Untermyer, Richard P. Ackerman, New York City, of counsel), for defendants-appellants Oppenheimer Management Corp., Oppenheimer & Co., Leon Levy and Jack Nash.

John F. Davidson, New York City (Thacher, Proffitt & Wood, Daniel E. Kirsch, New York City, of counsel), for defendants-appellants Edmund T. Delaney and Emanuel Celler.

Donald N. Ruby, New York City (Wolf, Popper, Ross, Wolf & Jones, Robert Kornreich, New York City, of counsel), for plaintiffs-appellees.

Samuel E. Gates, John C. Elam, Columbus, Ohio, Peter J. Holme, Jr., New York City, Richard J. MacLaury, San Fransisco, Cal., Ralph L. McAfee, New York City, Don H. Reuben, Chicago, Ill., Carl J. Schuck, Los Angeles, Cal., Marvin Schwartz, William Simon and George A. Spiegelberg, New York City, for amicus curiae American College of Trial Lawyers urging reversal.

Before HAYS and MULLIGAN, Circuit Judges, and Palmieri, District Judge.

On Rehearing En Banc Decided June 22, 1977.

PALMIERI, District Judge.

Plaintiffs-appellees (plaintiffs) seek to maintain this action on behalf of certain present and former stockholders of Oppenheimer Fund, Inc. (the Fund), an investment company registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq. This is an appeal under 28 U.S.C. § 1291 from an interlocutory order holding the suit to be properly maintainable as a...

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