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APPLIED DIGITAL DATA SYSTEMS INC. v. MILGO ELECTRONIC CORP.

No. 76 Civ. 5454.

425 F.Supp. 1163 (1977)

APPLIED DIGITAL DATA SYSTEMS INC., Plaintiff, v. MILGO ELECTRONIC CORPORATION et al., Defendants.

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

January 25, 1977.

Attorney(s) appearing for the Case

Wachtell, Lipton, Rosen & Katz, New York City, for plaintiff; George A. Katz, Allan A. Martin, Alan D. Handler, New York City, of counsel.

Cahill, Gordon & Reindel, New York City, for defendant Milgo Electronic Corp.; Raymond L. Falls, Jr., New York City, of counsel.

Shearman & Sterling, New York City, for defendant Racal Electronics Ltd.; W. Foster Wollen, Michael W. Lillie, New York City, of counsel.

EDWARD WEINFELD, District Judge.

Familiarity is assumed with this Court's decision of January 3, 1977, which granted plaintiff's motion to enjoin consummation of a proposed sale of 312,000 shares of Milgo Electronic Corp. ("Milgo") common stock to Racal Electronics Limited ("Racal") upon the terms set forth therein.1 Since that time a series of events have occurred. Plaintiff Applied Digital Data Systems, Inc. ("ADDS") has cleared its...

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