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FELDMAN v. BATES MANUFACTURING CO.

143 N.J. Super. 84 (1976)

362 A.2d 1177

BERNICE FELDMAN, AS CUSTODIAN FOR BARBARA JANE FELDMAN ET AL., PLAINTIFFS-RESPONDENTS, v. BATES MANUFACTURING CO., INCORPORATED, A DELAWARE CORPORATION, ET AL., DEFENDANTS-APPELLANTS, AND IRVING TRUST COMPANY, A NEW YORK BANKING INSTITUTION, DEFENDANT.

Superior Court of New Jersey, Appellate Division.

Decided July 13, 1976.

Attorney(s) appearing for the Case

Mr. Marc Joseph argued the cause for appellants (Messrs. Stein and Rosen, attorneys; Messrs. Marc Joseph and Lewis M. Lefkowitz on the brief).

Messrs. Howard T. Rosen and William C. Slattery argued the cause for respondents (Messrs. Rosen and Weiss, attorneys; Mr. William J. Balcerski on the brief).

Before Judges LYNCH, LARNER and HORN.

The opinion of the court was delivered by LYNCH, P.J.A.D.

Leave having been granted, defendants appeal from an interlocutory order of the Chancery Division determining that the instant action was maintainable as a class action on behalf of those holders of preferred stock of defendant Bates Manufacturing Co. (Bates), a Delaware corporation, who failed to convert their shares into common stock on or before the close of business on May 16, 1975 (hereafter "cutoff date...

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