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IN RE ACTION INDUSTRIES TENDER OFFER

Civ. A. No. 83-0198-A. MDL No. 544.

572 F.Supp. 846 (1983)

In re ACTION INDUSTRIES TENDER OFFER.

United States District Court, E.D. Virginia, Alexandria Division.

October 19, 1983.

Attorney(s) appearing for the Case

B.G. Stephenson (local counsel) Stephenson & Balthrop, Ltd., Fairfax, Va., Bradley G. McDonald, McDonald & Karl, Washington, D.C., for McIntire.

Richard Stull, Stull, Stull & Brody, New York City, for Najaar.

I. Stephen Rabin, Rabin & Silverman, New York City, for Rosenthal.

Janis Orfe (local counsel) John Stump, Boothe, Prichard & Dudley, Fairfax, Va., Paul Titus, Bernard D. Marcus, Titus, Marcus & Shapira, Pittsburgh, Pa., for Action Industries and all individual defendants except S. Bob Buchwach.

Bernard S. Cohen, Cohen, Annand, Dunn & Sinclair, Alexandria, Va., Michael D. Buchwach, Specter & Buchwach, Pittsburgh, Pa., for S. Bob Buchwach.

Randolph A. Sutliff, McCandlish, Lillard, Rust & Church, Fairfax, Va., for James McIntire (as defendant on Action's counterclaim).

MEMORANDUM OPINION

I. FACTUAL BACKGROUND

RICHARD L. WILLIAMS, District Judge.

Action Industries, Inc. ("Action") is a housewares marketing corporation organized under the laws of Pennsylvania, with its principal place of business in Pennsylvania. Its stock is traded on the American Stock Exchange. Joel Gold, Charles B. Cooper, David S. Shapira, and S. Bob Buchwach are outside directors of Action Industries. Sholom Comay, Amos Comay, and Ernest...

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