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HEIT v. BAIRD

No. 77-1327.

567 F.2d 1157 (1977)

Charles HEIT, Plaintiff, Appellant, v. Walter S. BAIRD et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided December 29, 1977.

Attorney(s) appearing for the Case

Stephen D. Oestreich, New York City, with whom David I. Cohen, Salem, Mass., and Wolf, Popper, Ross, Wolf & Jones, New York City, were on brief, for plaintiff, appellant.

William A. Zucker, Boston, Mass., with whom Robert A. Trevisani and Gadsby & Hannah, Boston, Mass., were on brief, for defendants, appellees.

Before COFFIN, Chief Judge, CAMPBELL, Circuit Judge, and CRARY, District Judge.

LEVIN H. CAMPBELL, Circuit Judge.

This appeal involves the adequacy of allegations in a complaint brought in a stockholder's derivative suit as to why the plaintiff failed to make a demand on the directors to correct the alleged wrongs before suit was brought. Applying Federal Rule of Civil Procedure 23.1 and the standards developed in In re Kauffman Mutual Fund Actions, 479 F.2d 257 (1st Cir.), cert. denied, 414 U.S...

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