VANDERBILT v. GEO-ENERGY LTD.

Civ. A. No. 82-1799.

590 F.Supp. 999 (1984)

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. and 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.

United States District Court, E.D. Pennsylvania.

July 24, 1984.


Attorney(s) appearing for the Case

Harold E. Kohn, Robert J. LaRocca, Lawrence T. Hoyle, Jr., Philadelphia, Pa., for plaintiffs.

Marc J. Sonnenfield, Philadelphia, Pa., for Geothermal Resources Internl., Inc.

Matthew J. Broderick, Jeffrey G. Weil, Arthur H. Rainey, Philadelphia, Pa., for all remaining defendants.


MEMORANDUM AND ORDER

BECHTLE, District Judge.

This is a derivative suit on behalf of Geothermal Resources International, Inc. ("GRI"). Upon remand by the Third Circuit Court of Appeals the court has reexamined whether plaintiffs Oliver DeGray Vanderbilt, Vanderbilt & Company, and C. Clay Noah are fair and adequate representatives of the shareholder class. The court has also considered defendants' contention that Vanderbilt failed to make a good faith...

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