LANGNER v. BROWN

No. 95 Civ. 1981 (LBS).

913 F.Supp. 260 (1996)

Jay B. LANGNER, Plaintiff, v. Stephen L. BROWN, S.L. Brown & Company, Inc., Carl D. Glicman, Jeffrey J. Steiner, Irving Levine, Jonathan A. Marshall, John Greenbaum, and the Franklin Holding Company, Defendant.

United States District Court, S.D. New York.

January 30, 1996.


Attorney(s) appearing for the Case

Lowey, Dannenberg, Bemporad & Sellinger, P.C., New York City, for Plaintiff; Richard Dannenberg, of counsel.

Weil, Gotshal & Manges, New York City, for Defendant other than Franklin Holding; Dennis Block, of counsel.

Donovan Leisure Newton & Irvine, New York City, for Defendant Franklin Holding Corporation; James Stengel, of counsel.


SAND, District Judge.

This action arises out of Plaintiff Jay Langner's contention that Franklin Holding Corporation is being operated in the interest of its officers, directors and controlling shareholders to the detriment of the company and all the other shareholders. In his complaint, plaintiff seeks to enjoin defendants' alleged violations of both the Investment Company Act of 1940 ("the 1940 Act"), 15 U.S.C. §§ 80a-1 et seq., and the Securities Exchange...

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