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EICHENHOLTZ v. BRENNAN

No. 94-5253, D.C. Civ. A. Nos. 88-cv-00515, 88-cv-00773.

52 F.3d 478 (1995)

Paulette EICHENHOLTZ, Individually and on behalf of all others similarly situated and Derivatively on behalf of International Breeders, Inc., and David W. Craig, (Intervenor in D.C.) v. Robert E. BRENNAN; First Jersey Securities, Inc.; International Thoroughbred Breeders, Inc.; Garden State Racetrack, Inc.; Rooney Pace, Inc.; First Philadelphia Corporation; Kerry B. Fitzpatrick; John W. Allen; Joseph C. Daniel, Jr.; Jack Price; Robert J. Quigley; Norman Rothstein; John J. Degnan; Richard J. Hughes; Ronald J. Riccio; Joseph K. Fisher; and Herbert Barness. Larry SALBERG, Individually and on behalf of all others similarly situated and David W. Craig, (Intervenor in D.C.) v. Robert E. BRENNAN; First Jersey Securities, Inc.; International Thoroughbred Breeders, Inc.; Rooney Pace, Inc.; Kerry B. Fitzpatrick; Robert J. Quigley; John J. Degnan; Richard J. Hughes; Ronald J. Riccio; and Joseph K. Fisher First Jersey Securities, Inc.; Rooney Pace, Inc.; and First Philadelphia Corporation, Appellants.

United States Court of Appeals, Third Circuit.

Decided March 27, 1995.

Attorney(s) appearing for the Case

Paul J. Linker (argued), Donna M. Hughes, Robinson, St. John & Wayne, Newark, NJ, for appellants.

Paul D. Wexler (argued), Raymond A. Bragar, Bragar & Wexler, P.C., New York City, Glenn F. Ostrager, Ostrager, Chong & Flaherty, P.C., New York City, for plaintiffs.

Frederick B. Lacey (argued), Jay G. Safer, LeBoeuf, Lamb, Greene & MacRae, Newark, NJ, for Individual Settling defendants.

Leonard Barrack, Sheldon L. Albert, Jeffrey W. Golan (argued), Barrack, Rodos & Bacine, Philadelphia, PA, for Intern. Thoroughbred Breeders, Inc.

Before: HUTCHINSON, NYGAARD and SEITZ, Circuit Judges.

OPINION OF THE COURT

SEITZ, Circuit Judge.

This is an appeal from an order of the district court made final pursuant to Rule 54(b) of the Federal Rules of Civil Procedure. In its order, the court approved a settlement with some but not all defendants in a securities action. The non-settling defendants appeal, arguing that the partial settlement was unfair and prejudicial to them. The district court had jurisdiction pursuant to 28 U.S.C. § 1331, and...

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