Melvyn I. WEISS, Custodian for Gary Michael Weiss, U/NY/U.G.M.A., Plaintiff,
v.
TEMPORARY INVESTMENT FUND, INC., Provident Institutional Management Corporation, Shearson Loeb Rhoades Inc., Russell W. Richie, Robert I. Fortune, James Louis Robertson, Henry M. Watts, Jr., Dr. Ralph A. Young, Thomas S. Gates, G. Willing Pepper, Defendants.
United States District Court, D. Delaware.https://leagle.com/images/logo.png
August 27, 1981.
August 27, 1981.
Attorney(s) appearing for the Case
Joseph A. Rosenthal, and Kevin Gross, Morris & Rosenthal, P.A., Wilmington, Del., for plaintiff; Daniel W. Krasner, and Robert Lewin, Wolf, Haldenstein, Adler, Freeman & Herz, New York City, of counsel.
Rodman Ward, Skadden, Arps, Slate, Meagher & Flom, Wilmington, Del., for defendant Temporary Investment Fund, Inc.
Robert K. Payson, Potter, Anderson & Corroon, Wilmington, Del., for defendant Provident Institutional Management Corp.; Peter M. Mattoon, Richard Z. Freemann, Jr., and John B. Langel, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., of counsel.
Charles F. Richards, Jr., Richards, Layton & Finger, Wilmington, Del., for defendant Shearson Loeb Rhoades Inc.; David L. Foster, Richard E. O'Connell, and James B. Eisenberg, Willkie Farr & Gallagher, New York City, of counsel.
S. Samuel Arsht, and William T. Allen, Morris, Nichols, Arsht & Tunnell, Wilmington, Del., for defendants Richie, Fortune, Robertson, Watts, Jr., Young, Gates and Pepper; Morris R. Brooke, James M. Sweet, and James C. Ingram, Drinker Biddle & Reath, Philadelphia, Pa., of counsel.
United States District Court, D. Delaware.
OPINION
MURRAY M. SCHWARTZ, District Judge.
This is a shareholder's derivative action brought on behalf of a money market fund against the fund's investment adviser, its underwriter, and certain members of the fund's board of directors. In an Opinion and Order dated June 17, 1981, 516 F.Supp. 665, the Court dismissed the complaint for failure to satisfy the demand on directors requirement of Rule 23.1 of the Federal...
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