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SAYLOR v. BASTEDO

No. 65 Civ. 516 (CHT).

594 F.Supp. 371 (1984)

Robert SAYLOR, et al., Plaintiffs, v. Philip BASTEDO, et al., Defendants.

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

September 12, 1984.

Attorney(s) appearing for the Case

Avrom S. Fischer, Brooklyn, N.Y., for plaintiffs.

Morgan, Lewis & Bockius; New York City, for defendants; James W. Harbison, Jr., Thomas R. Stritter, New York City, of counsel.

Pollack & Kaminsky, New York City, for nominal defendant Tonopah Mining Co. of Nevada; John Halebian, Daniel A. Pollack, New York City, of counsel.

Stephen E. Pearlman, Flushing, N.Y., for executrix of Estate of Abraham I. Markowitz.

Gerard J. O'Brien, New York City, for objector Michael McLaughlin; Richard Steel, New York City, of counsel.

OPINION

TENNEY, District Judge.

This is a stockholder's derivative action brought on behalf of the Tonopah Mining Company of Nevada ("Tonopah") by J. Ralph Saylor ("Saylor"). Pursuant to Federal Rule of Civil Procedure ("Rule") 23.1 the parties now seek court approval of a settlement agreement. In addition, plaintiffs' attorneys seek an award of attorney's fees not to exceed the amount of $177,000. For the reasons stated below the Court

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