Harold CRAMER, custodian for Patricia Gail Cramer, Appellant,
v.
GENERAL TELEPHONE & ELECTRONICS CORPORATION and Leslie H. Warner, Theodore F. Brophy, John J. Douglas, William F. Bennett and Arthur Andersen & Co.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
Argued June 5, 1978.
Decided July 18, 1978.
As Amended August 8, 1978.
Attorney(s) appearing for the Case
Mitchell A. Kramer, Steven Kapustin, Stuart Peim, Kramer & Salus, Philadelphia, Pa., for appellant.
Peter M. Fishbein, Steven J. Glassman, Myron Kirschbaum, Kaye, Scholer, Fierman, Hays & Handler, New York City, for appellees Warner, Brophy & Douglas.
Peter H. Morrison, Benjamin Zelermyer, Gerald G. Paul, Bobbe A. Brown, Morrison, Paul & Beiley, New York City, for appellee Bennett; Arthur H. Kahn, Joseph A. Tate, Schnader, Harrison, Segal & Lewis, Philadelphia, Pa., of counsel.
John G. Harkins, Jr., Patricia L. Freeland, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for appellee General Telephone & Electronics Corp.; Dean C. Rohrer, Samuel J. Wilson, General Telephone & Electronics Corp., Stamford, Conn., of counsel.
Before GIBBONS, ROSENN and HUNTER, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
GIBBONS, Circuit Judge:
This is an appeal from the termination of a shareholder's derivative suit brought by Harold Cramer1 on behalf of the shareholders of General Telephone & Electronics Corporation (GTE). The defendants are Leslie H. Warner, Theodore F. Brophy, John J. Douglas, and William Bennett, directors of the corporation, and Arthur Andersen & Co., GTE's auditors. In his complaint, the plaintiff...
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