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CONDEC CORP. v. FARLEY

No. 83 CIV 7223 (LBS).

578 F.Supp. 85 (1983)

CONDEC CORPORATION, Condec International Corporation, and Conval Corporation, Plaintiffs, v. William F. FARLEY, Farley Metals Inc. Employee Benefit Master Trust, Farley Industries, Inc., Farley Metals, Inc., John F. Farley, William H. Vrba, and the Northern Trust Company, Defendants.

United States District Court, S.D. New York.

October 12, 1983.

Attorney(s) appearing for the Case

Kaye, Scholer, Fierman, Hays & Handler, New York City, for plaintiffs; Allen Kezsbom, Aaron Rubinstein, Richard A. DeSevo, New York City, of counsel.

Cleary, Gottlieb, Steen & Hamilton, New York City, for all defendants but The Northern Trust Co.; Edwin B. Mishkin, Judith A. Ripps, Neil P. Forrest, Mitchell A. Lowenthal, New York City, of counsel.

Katten, Muchin, Zavis, Pearl & Galler, Chicago, Ill., for The Northern Trust Co.

OPINION

SAND, District Judge.

Plaintiffs herein are Condec Corporation, a corporation incorporated under the laws of New York State whose shares are traded on the American Stock Exchange, and two of its wholly owned subsidiaries. Plaintiffs allege that defendant William Farley and other named defendants under his control violated New York's Security Takeover Disclosure Act, N.Y.Bus.Corp. §§ 1600-1614 (McKinney 1982 Supp.), by failing to file a...

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