Marcel GOLDBERGER and Robert S. Krauser on behalf of Health-Chem Corporation, Perfection Print and Color Company, Inc., Time Chemical, Inc. and Custom Spray Products, Inc., Plaintiffs,
v.
Leon C. BAKER, Marvin M. Speiser, Marvin S. Caligor, Sy Baskin, George W. Gable, Gerald Chige, Roy Marcus, Melvin Shore, Walter C. Drost, Eugene L. Young, John J. Blumers, Health-Chem Corporation, Health Med Corporation and Medallion Group, Inc., Perfection Paint and Color Company, Inc., Time Chemical, Inc., and Custom Spray Products, Inc., Defendants.
United States District Court, S. D. New York.https://leagle.com/images/logo.png
October 20, 1977.
As Amended October 31, 1977.
Attorney(s) appearing for the Case
Donald M. Kresge, New York City, for plaintiffs.
Gordon, Hurwitz, Butowsky, Baker, Weitzen & Shalov, New York City, for defendants, Baker, Caligor, Baskin, Gable, Chige, Marcus, Shore, Drost, Young, Blumers, Health Med Corporation & Medallion Group, Inc. by Franklin B. Velie, Theodore Altman, Paul W. Wexler, New York City, of counsel.
Ballon, Stoll & Itzler, New York City, for defendant; Marvin M. Speiser by Gary J. Langer, New York City, of counsel.
Blumberg, Singer, Ross, Gottesman & Gordon, New York City, for defendants, Health-Chem Corp., Perfection Paint & Color Co., Inc., Time Chemical, Inc., and Custom Spray Products, Inc. by Mathew H. Ross, New York City, of counsel.
United States District Court, S. D. New York.
OPINION
GOETTEL, District Judge.
Plaintiffs bring this derivative action on behalf of Health-Chem Corp., alleging that Health-Chem's corporate parents, Health-Med Corp. and Medallion Group, Inc., looted Health-Chem and several of its subsidiaries through a series of fraudulent securities transactions. The complaint alleges that the acts constituted violations of Sections 10(b) and 14(a) of the Securities Exchange...
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