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VANDERBILT v. GEO-ENERGY LTD.

No. 83-1160.

725 F.2d 204 (1983)

Oliver DeGray VANDERBILT, individually, and Oliver DeGray Vanderbilt, individually and as trustee, Madelon V. Peck, Charles S. Peck, Anne P. McNicholas and John C. Baity, as trustee, partners, trading as Vanderbilt & Company, derivatively on behalf of Geothermal Resources International, Inc., Appellants, C. Clay Noah (intervenor) v. GEO-ENERGY LIMITED, E. J. Lavino and Company, Edward J. Lavino, II individually and as a trustee, Ronald P. Baldwin, George L. Barnes, Dominic J. Falcone, Robert R. Twiford, Geothermal Resources International, Inc., and Thomas F. Bole, Appellees.

United States Court of Appeals, Third Circuit.

Decided December 28, 1983.

Attorney(s) appearing for the Case

Harold E. Kohn (argued), Robert J. LaRocca, Kohn, Savett, Marion & Graf, P.C., Philadelphia, Pa., for intervenor appellant C. Clay Noah.

Lawrence T. Hoyle, Jr., Carole E. Handler, Schnader, Harrison, Segal & Lewis, Philadelphia, Pa., for appellants.

E. Barclay Cale, Jr., Marc J. Sonnenfeld (argued), Jami Wintz McKeon, Morgan, Lewis & Bockius, Philadelphia, Pa., for appellee Geothermal Resources Intern., Inc.

Matthew J. Broderick, Arthur H. Rainey, Jeffrey G. Weil, Dechert, Price & Rhoads, Philadelphia, Pa., for appellees Geo-Energy Ltd., E.J. Lavino and Co., Edward J. Lavino, II, individually and as a trustee, Ronald P. Baldwin, George L. Barnes, Dominic J. Falcone, Robert R. Twiford and Thomas F. Bole.

Before WEIS, HIGGINBOTHAM and SLOVITER, Circuit Judges.

OPINION OF THE COURT

A. LEON HIGGINBOTHAM, Jr., Circuit Judge.

Appellants/plaintiffs appeal from two separate orders of the district court dismissing this derivative action. The district court's interlocutory order of October 18, 1982 dismissed Oliver DeGray Vanderbilt's and Vanderbilt & Company's complaint because the district court found that these plaintiffs were not fair and adequate representatives of the shareholder class. This same order also...

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