IN RE SALOMON INC. SHAREHOLDERS' DERIVATIVE LIT.

No. 661, Docket 95-7645.

68 F.3d 554 (1995)

IN re SALOMON INC. SHAREHOLDERS' DERIVATIVE LITIGATION 91 CIV. 5500 (RRP): all actions. Morton WEINER, Dr. Henry Housman, Laurence Housman, The Hallisey and Johnson Money Purchase Pension Trust, Norman Salsits, David Shaev, Chaim Mandelbaum, Three Bridges Investment Group, Leatrice Seinfeld, Dorothy L. Kas, Alfred Cardani, Ruby Resnik, Gregg Copenhagen, IRA DTD 9/22/89, Thomas Lacosta, Murray Elias, Kenneth Steiner, and J. Pennock Graham, Derivative Plaintiffs-Appellees, v. John H. GUTFREUND, Thomas W. Strauss, and John W. Meriwether, Defendants-Appellants.

United States Court of Appeals, Second Circuit.

Decided October 13, 1995.


Attorney(s) appearing for the Case

Greg A. Danilow, Weil, Gotshal & Manges, New York City (Curt P. Beck, of counsel), for defendant-appellant Thomas W. Strauss.

Philip K. Howard, Howard, Darby & Levin, New York City (Linda C. Goldstein, of counsel), for defendant-appellant John H. Gutfreund.

Charles E. Davidow, Wilmer, Cutler & Pickering, Washington, DC (Jeffrey E. McFadden, of counsel), for defendant-appellant John W. Meriwether.

Patricia M. Hynes, Milberg Weiss Bershad Hynes & Lerach, New York City (Melvyn I. Weiss, Steven G. Schulman, Joshua H. Vinik, of counsel), for derivative plaintiffs-appellees.

Scott W. Fisher, Garwin, Bronzaft, Gerstein & Fisher, New York City (Bertram Bronzaft, Jerald Stein, of counsel), for derivative plaintiffs-appellees.

Before: WINTER, ALTIMARI, and McLAUGHLIN, Circuit Judges.


McLAUGHLIN, Circuit Judge:

Shareholders in Salomon Inc. ("Salomon"), the corporate parent of Salomon Brothers Inc. ("Salomon Brothers"), brought a derivative suit in the United States District Court for the Southern District of New York (Robert P. Patterson, Jr., Judge). They alleged securities and common law claims on behalf of Salomon and Salomon Brothers, all stemming from the Treasury Bill auction scandal that rocked Wall Street a few years ago.

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