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ARMSTRONG WORLD INDUSTRIES v. ADAMS

No. 91-1503.

961 F.2d 405 (1992)

ARMSTRONG WORLD INDUSTRIES, INC., derivatively by Tessie WOLFSON and Rodney B. Shields, as well as in their own right v. William W. ADAMS; Barbara Hackman Franklin; E. Allen Deaver; George A. Lorch; William Wallace Abbott; Francis V. Breeze; William M. Ellinghaus; Mary Joan Glynn; Joseph L. Jones; James E. Marley; Robert F. Patton; J. Phillip Samper; Harry K. Wells; James J. Haggerty, Secretary of State of the Commonwealth of Pennsylvania in his official capacity; Ernie Preate, Jr., Attorney General of the Commonwealth of Pennsylvania in his official capacity; Armstrong World Industries, Inc. Tessie Wolfson and Rodney B. Shields, individually in their own right and derivatively on Behalf of Armstrong World Industries, Inc., Appellants.

United States Court of Appeals, Third Circuit.

Decided April 10, 1992.

Attorney(s) appearing for the Case

Mark C. Rifkin (argued), Richard D. Greenfield, Greenfield & Chimicles, Haverford, Pa., for appellants.

Thomas L. Vankirk (argued), Stanley Yorsz, Buchanan Ingersoll Professional Corp., Pittsburgh, Pa., for appellees William W. Adams, Barbara Hackman Franklin, E. Allen Deaver, George A. Lorch, William Wallace Abbott, Francis V. Breeze, William M. Ellinghaus, Mary Joan Glynn, Joseph L. Jones, James E. Marley, Robert F. Patton, J. Phillip Samper, Harry K. Wells, and Armstrong World Industries, Inc.

Before: SCIRICA, ALITO and SEITZ, Circuit Judges.

OPINION OF THE COURT

SCIRICA, Circuit Judge.

This case involves a challenge to the constitutionality of the Pennsylvania anti-takeover act of 1990. Plaintiffs, shareholders of Armstrong World Industries, Inc.,1 brought this action seeking declaratory and injunctive relief on behalf of themselves and Armstrong against the board of directors, state officials charged with implementing the...

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