DECKER v. MASSEY-FERGUSON, LTD.

No. 79 Civ. 2694 (RLC).

534 F.Supp. 873 (1981)

John P. DECKER, on behalf of himself and all others similarly situated, Plaintiff, v. MASSEY-FERGUSON, LIMITED, Albert A. Thornbrough, John E. Mitchell, John G. Staiger, A. Bruce Matthews, Colin W. Webster, Alex E. Barron, Maxwell C. G. Meighen, Trumbull Warren, Henry Borden, John D. Leitch, A. M. Runciman, J. Page R. Wadsworth, the Marquess of Abergavenny, the Duke of Wellington, and Clarkson, Gordon & Co., Defendants.

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

May 28, 1981.


Attorney(s) appearing for the Case

Greenfield & Schoen, P. C. by Richard D. Greenfield, Sterling H. Schoen, Jr., and Robert P. Frutkin, Bala-Cynwyd, Pa., Kohn, Savett, Marion & Graf, P. C. by Stuart H. Savett, Donald L. Weinberg and David H. Weinstein, Berger & Montague, P. C. by David Berger, Sherrie R. Savett and Stanley R. Wolfe, Philadelphia, Pa., for plaintiff and the class.

Cahill, Gordon & Reindel by David R. Hyde, Allen S. Joslyn and Charles A. Gilman, New York City, for Massey-Ferguson, Ltd. and individual defendants.

White & Case by P. B. Konrad Knake, Paul L. Kennedy, New York City, for Clarkson, Gordon & Co.


OPINION

ROBERT L. CARTER, District Judge.

Plaintiff John P. Decker brought this action against Massey-Ferguson, Ltd. ("Massey"); fourteen present or former directors of Massey (the "individual defendants");1 and Clarkson, Gordon & Co. ("Clarkson"), auditors for Massey. Decker alleges that the defendants acted or failed to act in ways that violated §§ 10(b), 18(a) and 20(a) of the Securities Exchange Act ("Act")...

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