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COLECO INDUSTRIES, INC. v. BERMAN

Nos. 76-2328 to 76-2331.

567 F.2d 569 (1977)

COLECO INDUSTRIES, INC., Appellant in No. 76-2328, v. Abe BERMAN, Appellant in No. 76-2331, Joseph Rubin, Irving Cohen, Lewis M. Cohen, Frederick Cohen, and Zelnick, Sobelman & Company. Appeal of Joseph RUBIN, Irvin Cohen, Lewis M. Cohen, etc., in No. 76-2329. Appeal of ZELNICK, SOBELMAN & COMPANY, in No. 76-2330.

United States Court of Appeals, Third Circuit.

Decided November 25, 1977.

Attorney(s) appearing for the Case

Bruce D. Lombardo, Harvey, Pennington, Herting & Renneisen, Ltd., Philadelphia, Pa., for appellant in 76-2330 and appellee in 76-2328/9 and 76-2331.

Joseph A. Yablonski, Charles R. Both, Daniel B. Edelman, Yablonski, Both & Edelman, Washington, D. C., David Berger, Richard A. Sprague, Michael K. Simon, David Berger, P. A., Philadelphia, Pa., for appellant, Coleco Industries, Inc.

Daniel B. Pierson, V. Pierson, Jones & Nelson, P.C., Philadelphia, Pa., for appellant, Joseph Rubin.

Theodore R. Mann, Barry E. Ungar, Larry H. Spector, Mann and Ungar, Prof. Assoc., Philadelphia, Pa., for appellants Irvin Cohen, Lewis M. Cohen and Frederick Cohen.

Glenn C. Equi, Bruce D. Lombardo, Robert J. McKee, Jr., Martin J. Resnick, E. Harris Baum, Zarwin, Baum, Arangio & Somerson, P.C., Philadelphia, Pa., for appellant, Abe Berman; Harvey, Pennington, Herting & Renneisen, Ltd., Philadelphia, Pa., of counsel.

Before ADAMS and GARTH, Circuit Judges, and LAYTON, District Judge.

OPINION OF THE COURT

PER CURIAM:

This factually-complex case arises out of the 1973 acquisition of Royal All-Aluminum Swimming Pool Corp. by a 100% stock purchase on the part of Coleco Industries, Inc. Royal's shareholders were Abe Berman, Joseph Rubin, and Irvin, Lewis and Frederick Cohen. Berman acted as president and sales manager, Rubin functioned as vice president, design engineer and production manager, while the Cohens provided financial support to...

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