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CLEMENTE GLOBAL GROWTH FUND, INC. v. PICKENS

88 Civ. 5317 (JFK).

729 F.Supp. 1439 (1990)

CLEMENTE GLOBAL GROWTH FUND, INC., Plaintiff, v. T. Boone PICKENS, III, Oliver R. Grace, Jr., John S. Grace, Grace-Pickens Acquisition Corp., Sumter Partners, L.P., Grace-Merrill, L.P., Drake Associates L.P., Anglo American Security Fund, L.P., Sterling Grace Capital Management, L.P., and Churchill Associates, L.P., Defendants.

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

January 23, 1990.

Attorney(s) appearing for the Case

Gaston & Snow, New York City (Charles M. Mattingly, Donald N. Cohen, of counsel), for plaintiff.

Baker & Botts, Dallas, Tex. (Robert W. Jordan, of counsel), Davis, Markel & Edwards, New York City (Dennis H. Tracey, III, of counsel), for defendants T. Boone Pickens, III and Sumter Partners, L.P.

Olshan Grundman Frome Rosenzweig & Orens, New York City (Thomas J. Fleming, of counsel), for defendants Oliver R. Grace, Jr., John S. Grace, Grace-Pickens Acquisition Corp., Grace-Merrill, L.P., Drake Associates, L.P., Anglo American Security Fund, L.P., Sterling Grace Capital Management, L.P., and Churchill Associates, L.P.

OPINION AND ORDER

KEENAN, District Judge.

BACKGROUND

The central facts of this case are set forth in Clemente Global Growth Fund, Inc. v. Pickens, 705 F.Supp. 958 (S.D.N.Y. 1989), familiarity with which is assumed. There, this Court ruled that plaintiff, a closed-end management investment company (the "Fund"), had standing to sue to enforce § 12(d)(1) of the Investment Company Act of 1940 (the ...

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