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ABELLA v. UNIVERSAL LEAF TOBACCO CO., INC.

Civ. A. No. CA79-0073-R.

495 F.Supp. 713 (1980)

Frank J. ABELLA, Jr. on behalf of and in the name of Universal Leaf Tobacco Co., Incorporated, Plaintiff, v. UNIVERSAL LEAF TOBACCO CO., INC. et al., Defendants.

United States District Court, E. D. Virginia, Richmond Division.

August 6, 1980.

Attorney(s) appearing for the Case

Alan E. Bandler, Kass, Goodkind, Wechsler & Labaton, New York City, G. Rodney Sager, Richmond, Va., for plaintiff.

Robert E. DeRight, Jr., Craig M. Walker, Alexander & Green, William C. Sterling, Jr., Peter D. McKenna, Wachtell, Lipton, Rosen & Katz, New York City, Frank B. Miller, III, Sands, Anderson, Marks & Miller, Richmond, Va., James C. Roberts, Gary J. Spahn, F. Claiborne Johnston, Jr., Mays, Valentine, Davenport & Moore, Richmond, Va., for defendants.

MEMORANDUM

MERHIGE, District Judge.

Plaintiff brings this derivative action on behalf of Universal Leaf Tobacco Co., a Virginia corporation, (hereinafter "Universal"), to recover approximately 1.2 million dollars from individual directors and officers of Universal expended by the corporation in opposition to a takeover bid by another corporation. Additionally, plaintiff seeks the removal of the individual defendants as directors and the appointment of a...

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