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MALCHMAN v. DAVIS

No. 888, Docket 82-7759.

706 F.2d 426 (1983)

Nathan MALCHMAN, Gerta Conway, William Deautriell, and Louis Stone, Plaintiffs-Appellees, v. Leonard DAVIS, Sophie Davis, Colonial Penn Group, Inc., Colonial Penn Franklin Insurance Company, Intramerica Life Insurance Company, National Association Plans, Inc., American Association of Retired Persons, National Retired Teachers Association, Carrie B. Allen, Oranda Bangsberg, Bernard Berggren, June Biggar, Arthur Bouton, Olaf Kaasa, Clara L. Kleweno, Floyd E. Tumbleson, J. Leonard Johnson, C.E. Carmichael, American Association of Retired Persons Insurance Trust, Dorothy M. Crippen, James J. Browning, Lloyd I. Singer, Cyril F. Brickfield, and John J. MacWilliams, Defendants-Appellees, Mountain Plains Congress of Senior Organizations, Mr. and Mrs. Hugh A. Groves, Francis Seely, Estelle Whittle, Henry Whittle, Mr. and Mrs. Burton W. Atkinson, Mr. and Mrs. C.E. Dietrich, Harriet Miller, and Alice Van Landingham, Objectors-Appellants.

United States Court of Appeals, Second Circuit.

Decided May 2, 1983.

Attorney(s) appearing for the Case

Joseph A. Yablonski, Washington, D.C. (Daniel B. Edelman, Yablonski, Both & Edelman, Washington, D.C., Philip J. Hirschkop, Hirschkop & Grad, P.C., Alexandria, Va., Robert J. Sugarman, Sugarman & Denworth, Philadelphia, Pa.), for objectors-appellants.

Michael Lesch, New York City (Fran M. Jacobs, Shea & Gould, New York City,

Stanley L. Kaufman, Irving Malchman, Kaufman, Malchman & Kirby, New York City, of counsel), for plaintiffs-appellees.

Sidney Rosdeitcher, Washington, D.C. (Jeffrey C. Slade, Paul, Weiss, Rifkind, Wharton & Garrison, Washington, D.C., of counsel), for Colonial Penn Group, Inc., and related defendants-appellees.

Geoffrey M. Kalmus, New York City (Michael S. Oberman, Kramer, Levin, Nessen, Kamin & Soll, New York City, of counsel), for Association defendants-appellees.

Before LUMBARD, OAKES and NEWMAN, Circuit Judges.

OAKES, Circuit Judge:

This appeal is by objectors to the settlement of a class action antitrust suit. The settlement, while giving certain injunctive relief against some of the defendants, also waives any claim for damages for the defendants' past conduct by several million members of the plaintiffs' class(es). Coordinately, the settlement agreement covers a state court lawsuit for breach of fiduciary duty and conflict of interest arising out of the same facts. The...

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