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SILBERMAN v. BOGLE

No. 81-2966.

683 F.2d 62 (1982)

Joseph SILBERMAN, individually and on behalf of all other shareholders of Wellington Fund, Inc. and all other persons similarly situated v. John C. BOGLE, Robert W. Doran, Paul B. Firstenberg, Daniel S. Gregory, Barbara B. Hauptfuhrer, John T. Jackson, John Jeppson, III, Charles D. Root, Jr., James O. Welch, Jr., Burton G. Malkiel, James S. Riepe, Raymond J. Klapinsky, Richard F. Hyland, Wilmington Trust Company, Executor of the Estate of Richard F. Corroon, Dorothy Helen Hill and Citibank, N.A., Executors of the Estate of James T. Hill, Jr. The Vanguard Group, Inc., Vanguard Marketing Corporation, Wellington Management Company and The Wellington Fund, Inc. and Windsor Fund, Inc., Ivest Fund, Inc., Explorer Fund, Inc., W. L. Morgan Growth Fund, Inc., Wellesley Income Fund, Inc., Westminster Bond Fund, Inc., Whitehall Money Market Trust, Qualified Dividend Portfolio, Inc., Qualified Dividend Portfolio II, Inc., First Index Investment Trust, and Warwick Municipal Bond Fund, Inc., Plaintiff, Joseph Silberman and Fred Lowenschuss Associates, Counsel for Plaintiff Above-named, Appellants.

United States Court of Appeals, Third Circuit.

Decided June 28, 1982.

Attorney(s) appearing for the Case

Fred Lowenschuss Associates, Philadelphia, Pa., for appellants; Fred Lowenschuss, William D. Parry, Philadelphia, Pa., of counsel.

Fred C. Aldridge, Jr., William G. Scarborough, Carol M. York, Stradley, Ronon, Stevens & Young, Philadelphia, Pa., for appellee, Wellington Fund, Inc.

Before ALDISERT, GIBBONS and HIGGINBOTHAM, Circuit Judges.

Submitted Under Third Circuit Rule 12(6) June 14, 1982.

OPINION OF THE COURT

GIBBONS, Circuit Judge.

Joseph Silberman and his counsel appeal from an order awarding attorneys' fees and expenses in connection with the settlement of a shareholders derivative suit and related proceedings before the SEC.1 They contend that the amount of the award is inadequate. We affirm.

I.

Wellington Fund, Inc. (Wellington...

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