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MORALES v. LUKENS, INC.

No. 82 Civ. 6652(DNE).

593 F.Supp. 1209 (1984)

Richard MORALES, Plaintiff, v. LUKENS, INC. (As successor to the rights of General Steel Industries, Inc.), and Walco National Corporation, Defendants.

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

September 24, 1984.

Attorney(s) appearing for the Case

David Lopez, Robert M. Cavallo and Lawrence Weiss, New York City, for plaintiff.

Butler, Jablow & Geller, New York City, for defendants; Stanley Geller and Donna Glasgow, New York City, of counsel.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

EDELSTEIN, District Judge:

Plaintiff Richard Morales is a shareholder of Lukens, Inc. ("Lukens") and brought this derivative action pursuant to Rule 23.1 of the Federal Rules of Civil Procedure1 to recover shortswing profits owing to Lukens under Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b) (1982). The profits were allegedly made by defendant Walco National...

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