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BOX v. NORTHROP CORP.

No. 74 CIV. 4373.

459 F.Supp. 540 (1978)

Cloyce K. BOX, Plaintiff, v. NORTHROP CORPORATION, the Aetna Casualty and Surety Company, the Chase Manhattan Bank, N. A., George A. Fuller Company, Inc., Max E. Greenberg, David A. Trager, Louis Zircher, H. E. Drayer, William V. Lawson, F. G. Lyon, James F. Murphy, Sr., and Roger K. Soderberg, Defendants.

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

August 31, 1978.

Attorney(s) appearing for the Case

Mudge, Rose, Guthrie & Alexander by Henry Root Stern, New York City, Ford, Marrin, Esposito, Witmeyer & Bergman by Richard B. Marrin, John J. Witmeyer, III, New York City, for plaintiff.

Debevoise, Plimpton, Lyons & Gates by Samuel E. Gates, Robert L. King, Martin Frederic Evans, Eswin P. Rutan, II, New York City, for defendant Northrop Corp.

Hart & Hume by Jack Hart, Cecil F. Holland, Jr., New York City, for defendants The Aetna Cas. and Sur. Co., Max E. Greenberg and David A. Trager.

Milbank, Tweed, Hadley & McCloy by Andrew J. Connick, Lana R. Borsook, Mark S. Tulis, New York City, for defendants The Chase Manhattan Bank, N. A. and Louis Zircher.

Barrett, Smith, Schapiro, Simon & Armstrong by Michael F. Armstrong, Peter L. Agovino, Sandra G. Behrle, New York City, for defendant George A. Fuller Co., Inc.

MEMORANDUM OPINION

Findings of Fact and Conclusions of Law

MOTLEY, District Judge.

On December 15, 1971 the George A. Fuller Company, Inc. (Fuller), a company deeply in debt and in serious financial condition, was sold to the Northrop Corporation (Northrop). The recapitalization of Fuller was an integral part of the sale. Prior to the recapitalization, there were 10,000 shares of common stock outstanding. Plaintiff, Cloyce K. Box owned 2...

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