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POTOMAC CAPITAL MARKETS v. PRUDENTIAL-BACHE

No. 89 Civ. 2350 (RPP).

726 F.Supp. 87 (1989)

POTOMAC CAPITAL MARKETS CORP., et al., Plaintiffs, v. PRUDENTIAL-BACHE CORPORATE DIVIDEND FUND, INC., et al., Defendants.

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

December 4, 1989.

Attorney(s) appearing for the Case

Covington & Burling, Washington, D.C. by Harris Weinstein, Jay Smith, for plaintiffs Potomac Capital Markets Corp. and Potomac Capital Preferred Corp.

Cahill Gordon & Reindel, New York City by Thomas J. Kavaler, Lisa Pearson, Marc Bluver, Gardner, Carlton & Douglas, Chicago, Ill. by Michael E. Barry, for defendant Prudential Mut. Fund Management, Inc.

Sullivan & Cromwell, New York City by Theodore O. Rogers, Jr., for defendant Prudential-Bache Corporate Dividend Fund, Inc.

OPINION AND ORDER

ROBERT P. PATTERSON, Jr., District Judge.

This action is before the Court on the defendants' motions to dismiss the complaint pursuant to Fed.R.Civ.P. 12(b)(6), or in the alternative, for summary judgment pursuant to Fed.R.Civ.P. 56.

BACKGROUND

Prudential-Bache Corporate Dividend Fund, Inc. (the "Fund"), is a Maryland corporation which registered in September 1983 as an investment company with the Securities and Exchange...

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