BELL ATLANTIC CORPORATION, Derivatively by Trustees u/w of Beatrice Wilding and Martha Staub and on behalf of themselves and all others similarly situated
v.
Thomas E. BOLGER; Anton J. Campanella; Robert H. Levetown; Raymond W. Smith; Frank C. Carlucci; William G. Copeland; James H. Gilliam, Jr.; Gerald T. Halpin; Thomas H. Kean; John C. Marous, Jr.; John F. Maypole; Thomas H. O'Brien; Rozanne L. Ridgway; Shirley Young and
Bell Atlantic Corporation, Nominal Defendant,
Seymour Lazar, objector and class member and shareholder, Appellant in 92-1615,
Objectors, Anne R. Klein, Robert M. Klein and Adele Schwartz, Appellants in 92-1653.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
Argued February 26, 1993.
Decided August 18, 1993.
Attorney(s) appearing for the Case
Robert C. Heim (argued), Mary A. McLaughlin, Dechert, Price & Rhoads, Philadelphia, PA, for appellees Thomas E. Bolger, Anton J. Campanella, Robert H. Levetown, Raymond W. Smith, Frank C. Carlucci, William G. Copeland, James H. Gilliam, Jr., Gerald T. Halpin, Thomas H. Kean, John C. Marous, Jr., John F. Maypole, Thomas H. O'Brien, Rozanne L. Ridgway, Shirley Young and Bell Atlantic Corp.
Sheldon L. Albert (argued), Anthony J. Bolognese, Barrack, Rodos & Bacine, Philadelphia, PA, for appellant Seymour Lazar, appellant in 92-1615.
Eric A. Klein, (argued), New York City, for appellants Anne R. Klein, Robert M. Klein and Adele Schwartz, appellants in 92-1653.
C. Oliver Burt, III, (argued), Greenfield & Chimicles, Haverford, PA, Phyllis K. Sager, Law Offices of Phyllis K. Sager, Bryn Mawr, PA, for appellee Bell Atlantic Corp., derivatively by trustees u/w of Beatrice Wilding and Martha Staub and on behalf of themselves and all others similarly situated.
Before: MANSMANN, SCIRICA and FEINBERG, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
SCIRICA, Circuit Judge.
This appeal concerns certain Bell Atlantic Corp. shareholders' objections to the district court's approval of a derivative lawsuit settlement. Appellant-objectors Seymour Lazar, Anne Klein, and Robert Klein1 contend the settlement agreement between defendants and derivative plaintiff Bell Atlantic confers no benefit on Bell Atlantic and benefits only individual defendant directors...
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