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MECKEL v. CONTINENTAL RESOURCES CO.

No. 176, Docket 84-7446.

758 F.2d 811 (1985)

Wilfred J. MECKEL, II, Fred E. Brown, B.W. Robertson, William S. Hazen, John D. Lynch, David Watts, Theodorus V.W. Cushny, Ronald T. Schroeder, James H. Willis, as partners of J & W Seligman & Co., (on behalf of themselves and all former holders of the Florida Gas Company 5 3/4% Convertible Subordinated Debentures due April 1, 1989 who are similarly situated), Plaintiffs-Appellants, v. CONTINENTAL RESOURCES COMPANY (successor to Florida Gas Company) and Florida Exploration Company (formerly known as Continental Exploration Company, Inc.), Defendants-Appellees. CONTINENTAL RESOURCES COMPANY and Florida Exploration Company, Third-Party Plaintiffs, v. CITIBANK, N.A., Third-Party Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided March 21, 1985.

Attorney(s) appearing for the Case

Peter G. Eikenberry, New York City (Paul R. Levenson, Barthold & Eikenberry, New York City, of counsel), for plaintiffs-appellants.

Stephen Greiner, New York City (Jonathan P. Wolfert, Willkie Farr & Gallagher, New York City, of counsel), for defendants-appellees Continental Resources Co. and Fl. Exploration Co.

Nadine Strossen, New York City (Frederic M. Umane, Harvis & Zeichner, New York City, of counsel), for third-party defendant-appellee Citibank, N.A.

Before MANSFIELD, KEARSE and CARDAMONE, Circuit Judges.

CARDAMONE, Circuit Judge.

The issue on this appeal is whether there was a genuine issue of disputed fact as to whether notice of redemption was mailed to debenture holders advising them of their option to convert their debentures into common stock by a certain date. Appellants, agents for several debenture holders, instituted an action alleging that the holders failed to take advantage of the favorable conversion option because the redemption notice was inadequate...

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