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JACOBS v. PABST BREWING CO.

Civ. A. No. 82-200.

549 F.Supp. 1050 (1982)

Irwin L. JACOBS, Gerald A. Schwalbach, Dennis M. Mathisen, Daniel T. Lindsay, and the "Shareholders' Committee to Revitalize Pabst," an unincorporated association, Plaintiffs, v. PABST BREWING COMPANY, a Delaware corporation, and Torray Clark & Co. Incorporated, a Maryland corporation, Defendants. PABST BREWING COMPANY, a Delaware corporation, Counterclaim Plaintiff, v. Irwin L. JACOBS, Gerald A. Schwalbach, Dennis M. Mathisen, Daniel T. Lindsay, Ralph Klein, Rodney P. Burwell, Sam Singer, Francis A. Tarkenton and the "Shareholders' Committee to Revitalize Pabst," an unincorporated association, Counterclaim Defendants.

United States District Court, D. Delaware.

October 7, 1982.

Attorney(s) appearing for the Case

R. Franklin Balotti and Jesse Finkelstein of Richards, Layton & Finger, Wilmington, Del., and Yvette Miller of Weil, Gotshal & Manges, New York City, of counsel, for plaintiffs.

A. Gilchrist Sparks III and Lawrence A. Hamermesh of Morris, Nichols, Arsht & Tunnell, Wilmington, Del., and Wachtell, Lipton, Rosen & Katz, New York City, and Michael, Best & Friedrich, Milwaukee, Wis., of counsel, for defendant Pabst Brewing Co.

Henry N. Herndon, Jr. and P. Clarkson Collins, Jr., of Morris, James, Hitchens & Williams, Wilmington, Del., and Jean S. Moore of Hogan & Hartson, Washington, D.C., of counsel, for defendant Torray Clark & Co. Inc.

Joseph J. Farnan, Jr., U.S. Atty., John X. Denney, Jr., Asst. U.S. Atty., Wilmington, Del., and Edward F. Greene, Gen. Counsel, Jacob H. Stillman, Associate Gen. Counsel, David A. Sirignano, Sp. Counsel and Robert Mills and Elisse B. Walter, Attys., Securities and Exchange Com'n and Paul Gonson, Sol., Securities and Exchange Com'n, Washington, D.C., as amicus curiae.

LATCHUM, Chief Judge.

This action arises out of a hard-fought proxy contest for control of Pabst Brewing Company ("Pabst"), between the incumbent management and an insurgent group, the Shareholders' Committee to Revitalize Pabst ("Revitalization Committee"). Plaintiffs Irwin L. Jacobs, Gerald A. Schwalbach, Dennis M. Mathisen, Daniel T. Lindsay, and the Revitalization Committee ("Jacobs Group") have filed a First Amended Complaint against Pabst and Torray Clark &...

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