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SEIGAL v. MERRICK

Nos. 74 Civ. 2475 and 74 Civ. 2630.

441 F.Supp. 587 (1977)

David SEIGAL and Ethel Seigal, Plaintiffs, v. David MERRICK et al., Defendants. Harry GEHLER, Plaintiff, v. William R. HEARST, Jr., et al., Defendants.

United States District Court, S. D. New York.

October 26, 1977.

Attorney(s) appearing for the Case

Gold, Farrell & Marks by Martin R. Gold, Leonard M. Marks, New York City, Lead Trial Counsel for plaintiffs.

Levy & Levy by Morris Levy, New York City, for plaintiff Harry Gehler.

Nemser & Nemser by Stanley Nemser, New York City, for plaintiffs Berkowitz, et al. (in a related New York State action).

Rosenman, Colin, Freund, Lewis & Cohen by Max Freund, Joseph Zuckerman, New York City, for defendant Twentieth Century-Fox Film Corp.

Skadden, Arps, Slate, Meagher & Flom by Robert W. Sweet, Peggy L. Kerr, Timothy A. Nelsen, James E. Lyons, New York City, for defendant Directors.

David Merrick, pro se.

Norman Annenberg by Norman Annenberg, Griff DeNoyelles, Jr., New York City, for objector Koby.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

CONSTANCE BAKER MOTLEY, District Judge.

These consolidated cases are shareholder derivative suits on behalf of Twentieth Century-Fox Film Corporation (Fox). The complaints contain allegations of, inter alia, violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, as well as breach of fiduciary duty and waste and mismanagement of corporate assets by David Merrick...

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