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GREGG v. U.S. INDUSTRIES, INC.

Nos. 88-3056, 88-3676.

887 F.2d 1462 (1989)

F. Browne GREGG, Plaintiff-Counterclaim Defendant-Appellee, Cross-Appellant, v. U.S. INDUSTRIES, INC., a Delaware Corporation, and U.S. Industries Management Services, Defendants-Counterclaim Plaintiffs-Appellants, Cross-Appellees.

United States Court of Appeals, Eleventh Circuit.

October 25, 1989.

Attorney(s) appearing for the Case

William F. Sondericker, Derek G.P. Mac-Kenzie, Olwine, Connelly, Chase, O'Donnell & Weyher, New York City, James E. Cobb, Jack W. Shaw, Mathews, Osborne, McNatt, Gobelman & Cobb, Jacksonville, Fla., Mark G. Krum, Irwin H. Warren, Dennis J. Block, Weil, Gotshal & Manges, New York City, for defendants-counterclaim plaintiffs-appellants, cross-appellees.

C. Harris Dittmar, Timothy J. Corrigan and Julie Hills Tucker, Jacksonville, Fla., for plaintiff-counterclaim defendant-appellee, cross appellant.

Before FAY, Circuit Judge, RONEY, Senior Circuit Judge, and ALLEN, Senior District Judge.

FAY, Circuit Judge:

This action involves an appeal and cross-appeal from a second jury verdict in this case. In 1969, the plaintiff-appellee, cross-appellant, F. Browne Gregg sold several of his businesses engaged in construction, sand mining and design of dredging equipment to the defendant-appellant, cross-appellee, U.S. Industries, Inc. ("USI"). According to the agreement reached with USI, Gregg transferred his companies to USI for $3.5 million in USI stock, with...

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