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LEVNER v. PRINCE ALWALEED

No. 1534, Docket 94-9134.

61 F.3d 8 (1995)

Lawrence H. LEVNER, Plaintiff-Appellant, v. PRINCE ALWALEED Bin Talal Bin Abdulaziz Al Saud, and Citicorp, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided July 26, 1995.

Attorney(s) appearing for the Case

John F. Harnes, New York City (Joan T. Harnes, Silverman, Harnes & Harnes, Levy, Sonet & Siegel, New York City, on the brief), for plaintiff-appellant.

Joseph M. Hassett, Washington, DC (David G. Leitch, Albert W. Turnbull, Hogan & Hartson, on the brief), for defendant-appellee Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud.

Joseph T. McLaughlin, New York City (Margaret A. Helen Macfarlane, Shearman & Sterling, on the brief), for defendant-appellee Citicorp.

Before: NEWMAN, Chief Judge, WALKER, and CALABRESI, Circuit Judges.

JON O. NEWMAN, Chief Judge:

This appeal by Lawrence H. Levner, a shareholder of appellee Citicorp, presents issues relating to the adequacy of demand in a shareholder derivative suit and the propriety of a grant of summary judgment against appellant on his claim for violations of section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b) (1988). The District Court for the Southern District of New York (Loretta A. Preska, Judge) held, with respect...

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