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WILSON v. GREAT AMERICAN INDUSTRIES, INC.

Nos. 787, 997, Dockets 91-7682, 91-7708.

979 F.2d 924 (1992)

Alexander WILSON, individually and as representative of all minority shareholders of Chenango Industries, Inc., other than defendants on and before October 18, 1979, Plaintiffs-Appellees, Cross-Appellants, v. GREAT AMERICAN INDUSTRIES, INC., as corporate entity and as a sole shareholder of Chenango Industries, Inc.; Milton Koffman; Burton I. Koffman; Richard E. Koffman; as Directors of Great American Industries, Inc.; Chenango Industries, Inc.; Joseph M. Stack, as the representative of Chenango Industries in the merger between Chenango and Great American Industries; Gary Crounse; David Keith Dyer; Sharon Lee Dyer, as co-executors of the estate of David L. Dyer, deceased; William Starner; Anthony Mincolla, as directors of Chenango Industries, Inc., Defendants-Appellants, Cross-Appellees.

United States Court of Appeals, Second Circuit.

Decided November 17, 1992.

Attorney(s) appearing for the Case

John S. Guttman, Washington, D.C. (Albert J. Beveridge, III, Beveridge & Diamond, P.C., Washington, D.C., Donald J. Kemple, Hancock & Estabrook, Syracuse, N.Y., of counsel), for defendants-appellants, cross-appellees.

Peter H. Bouman, Binghamton, N.Y. (Richard W. Mertens, Coughlin & Gerhart, of counsel), for plaintiffs-appellees, cross-appellants.

Before VAN GRAAFEILAND, CARDAMONE and McLAUGHLIN, Circuit Judges.

CARDAMONE, Circuit Judge:

Defendants appeal and plaintiffs cross appeal from two decisions and orders of the United States District Court for the Northern District of New York (McCurn, C.J.) that awarded damages to plaintiffs because of misrepresentations contained in a joint proxy/prospectus issued in connection with a merger of defendant Chenango Industries, Incorporated (Chenango) into defendant Great American Industries, Incorporated (Great American). Defendants...

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