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CRAMER v. GENERAL TELEPHONE & ELECTRONICS

Civ. A. No. 76-1231.

443 F.Supp. 516 (1977)

Harold CRAMER, custodian for Patricia Gail Cramer v. GENERAL TELEPHONE & ELECTRONICS et al.

United States District Court, E. D. Pennsylvania.

August 22, 1977.

Attorney(s) appearing for the Case

Mitchell A. Kramer, Kramer & Salus, Philadelphia, Pa., for plaintiff.

Arthur H. Kahn, Philadelphia, Pa., of counsel, for Warner, et al.

Oliver C. Biddle, New York City, for Arthur Andersen & Co.

Kaye, Scholer, Fierman, Hays & Handler, New York City, for defendants Brophy, Douglas and Warner.

Dean C. Rohrer, New York City, for General Telephone and Electronics, John Haikins, Pepper, Hamilton & Scheetz, Philadelphia, Pa., of counsel.

Morrison, Paul, Stillman & Beiley, New York City, for Wm. F. Bennett.

OPINION AND ORDER

HIGGINBOTHAM, District Judge.

This shareholder derivative action, alleging violations of Sections 10(b), 12(b)(1), 13(a) and 14(a) of the 1934 Securities and Exchange Acts as well as breach of fiduciary duties, was commenced by Harold Cramer on behalf of the shareholders of General Telephone & Electronics Corp. (GTE) against Leslie H. Warner, Theodore F. Brophy, John G. Douglas and William...

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