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LORENZ v. CSX CORP.

Civ. A. Nos. 87-866, 87-971.

736 F.Supp. 650 (1990)

William F. LORENZ and Karen M. Lorenz, his wife; Victor A. Czerny; John Schmidt, and Janice J. Schmidt, his wife; Marjorie Slapin; Thaddeus E. Drake and Celia Drake, his wife; and Edith E. Berenkey: individually and on behalf of a class of former debentureholders similarly situated, Plaintiffs, v. CSX CORPORATION (formerly Chessie Systems, Inc.), The Chesapeake & Ohio Railroad Company and The Chase Manhattan Bank, N.A., Defendants. Ethel B. SAVIN, Individually and on behalf of a Class of former debentureholders similarly situated, Plaintiffs, v. CSX CORPORATION (formerly Chessie System, Inc.), The Chesapeake & Ohio Railroad, The Baltimore & Ohio Railroad Company and The Chase Manhattan Bank, N.A., Defendants.

United States District Court, W.D. Pennsylvania.

April 27, 1990.

Attorney(s) appearing for the Case

Michael P. Malakoff, Berger Kapetan Malakoff & Meyers, P.C., Pittsburgh, Pa., for plaintiffs.

Edwin J. Mills, Stull, Stull & Brody, New York City, for Ethel B. Savin.

Anthony J. Basinski, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., for Chesapeake & Ohio R. Co. and Baltimore & Ohio R. Co.

Robert C. Myers and Michele Gapinski, Dewey, Ballantine, Bushby, Palmer & Wood, New York City, and H. Woodruff Turner, Kirkpatrick & Lockhart, Pittsburgh, Pa., for Chase Manhattan Bank.

OPINION

COHILL, Chief Judge.

This is the latest chapter in a long, tortuous history of litigation between the defendant railroads and holders of convertible debentures. This multi-faceted case traces its origins back 13 years and in that time it has spawned 8 separate but related lawsuits in this district1 and several more loosely related cases in other states.2 The litigation in this district alone...

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