UNTERMEYER v. FIDELITY DAILY INCOME TRUST

No. 77-1323.

564 F.2d 615 (1977)

Walter UNTERMEYER, Jr., Plaintiff, Appellant, v. FIDELITY DAILY INCOME TRUST, Edward C. Johnson 3rd, Caleb Loring, Jr., George K. McKenzie, William R. Spaulding, and Fidelity Management & Research Company, Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided November 2, 1977.


Attorney(s) appearing for the Case

Sidney B. Silverman, New York City, with whom Silverman & Harnes, New York City, Robert J. Sherer and Roche, Carens & DeGiacomo, Boston, Mass., were on brief, for plaintiff, appellant.

Sumner H. Babcock, Boston, Mass., with whom, E. Susan Garsh and Bingham, Dana & Gould, Boston, Mass. were on brief, for George K. McKenzie and William R. Spaulding, defendants, appellees.

Peter M. Saparoff, Boston, Mass., with whom Gaston, Snow & Ely, Bartlett, Boston, Mass., was on brief, for Fidelity Daily Income Trust, defendant, appellee.

James S. Dittmar, Boston, Mass., with whom Carol Goodman and Goodwin, Procter & Hoar, Boston, Mass., were on brief, for Edward C. Johnson 3rd, Caleb Loring, Jr., and Fidelity Management & Research Co., defendants, appellees.

Before ALDRICH and CAMPBELL, Circuit Judges, and CRARY, District Judge.


ALDRICH, Senior Circuit Judge.

In this minority shareholder's suit against a mutual fund, its four trustees, and its corporate investment adviser, alleging a pricing policy for new shares that resulted in their being sold for less than their true worth, defendants moved to dismiss for plaintiff's failure to have made a prior demand upon the trustee defendants. Assertedly, selling new shares below their true worth not only diluted the interest of existing shareholders...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases