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  5. 776 F.Supp. 838 (1991)
 

IN RE GULF OIL/CITIES SERVICE TENDER OFFER LIT.

Nos. 82 Civ. 5253 (MB), 87 Civ. 8982 (MBM).

776 F.Supp. 838 (1991)

In re GULF OIL/CITIES SERVICE TENDER OFFER LITIGATION. W. ALTON JONES FOUNDATION, Wenonah Development Company, Foster and Foster, and Foster Bam and Alma Foster Davis, Both Individually and as Trustees for Four Testamentary Trusts Under the Wills of Fannie Estelle Foster, Millicent F. Foster, Sylvester M. Foster, and Warren W. Foster, Plaintiffs, v. CHEVRON U.S.A. INC., f/k/a Gulf Oil Corporation, Defendant.

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

November 8, 1991.

Attorney(s) appearing for the Case

Stephen D. Oestreich, Wolf, Popper, Ross, Wolf & Jones, New York City, Berger & Montague, Philadelphia, Pa., Bizar D'Alessandro Shustak & Martin, Goodkind, Labaton & Rudoff, Kaufman, Malchman, Kaufman & Kirby, Lowey, Dannenberg & Knapp, P.C., New York City, for class action plaintiffs.

Thomas Moreland, Jeffrey S. Trachtman, Ross N. Herman, Paul F. Occhiogrosso, Kramer, Levin, Nessen, Kamin & Frankel, New York City, for plaintiffs W. Alton Jones Foundation, et al.

John W. Castles, III, Banks Brown, Frederic W. Parnon, John D. Henderson, Robert A. Becker, Lord Day & Lord, Barrett Smith, New York City, John S. Athens, Conner & Winters, Tulsa, Okl., John E. Bailey, Chevron U.S.A., Inc., Houston, Tex., William P. Casella, Narrowsburg, N.Y., for defendant.

OPINION AND ORDER

MUKASEY, District Judge.

This opinion deals with three open issues in the captioned litigation: (i) whether Messrs. Lee, Hammer and Moyles — the directors of the entity designated as the "Purchaser" in the Offer to Purchase (the "Offer"), or the directors of Gulf, are the persons whose conduct is to be evaluated in determining whether Gulf properly invoked the "litigation out" in § 15(d) of the Offer; (ii) whether Harold Hammer...

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