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REA EXPRESS, INC. v. INTERWAY CORP.

Nos. 1140, 1249, Dockets 76-7099, 76-7100.

538 F.2d 953 (1976)

REA EXPRESS, INC., Plaintiff-Appellant, Cross-Appellee, v. INTERWAY CORPORATION and Integrated Container Service, Inc., Defendants-Appellees, Cross-Appellant.

United States Court of Appeals, Second Circuit.

Decided July 12, 1976.

Attorney(s) appearing for the Case

Franklin Poul, Philadelphia, Pa. (Wolf, Block, Schorr & Solis-Cohen, Judith R. Cohn, Philadelphia, Pa., Whitman & Ransom, Donald L. Wallace, New York City, of counsel), for plaintiff-appellant and cross-appellee.

Stephen A. Weiner, New York City (Winthrop, Stimson, Putnam & Roberts, John F. Pritchard, Robert J. Sussman, New York City, of counsel), for defendants-appellees and cross-appellant.

Before FRIENDLY, FEINBERG and VAN GRAAFEILAND, Circuit Judges.

VAN GRAAFEILAND, Circuit Judge:

The principal question in this case is whether the holder of preferred stock with an option to convert it into common stock, to be registered with the SEC at the request of the convertor, must tender his stock for conversion before he can demand registration of the common stock to be received in exchange. Under the facts of this case, we hold that he need not and reverse the contrary holding...

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