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IBS FINANCIAL CORP. v. SEIDMAN & ASSOCIATES, L.L.C.

Civil Action No. 96-5435 (JEI).

954 F.Supp. 980 (1997)

IBS FINANCIAL CORP., Plaintiff, v. SEIDMAN & ASSOCIATES, L.L.C.; Seidman & Associates II, L.L.C.; Federal Holdings, L.L.C.; Seidman Investment Partnership, L.P.; Lawrence B. Seidman; the Benchmark Company, Inc.; the Benchmark Partners, L.P.; Lorraine Di Paolo; Richard Whitman; Ernest Beier, Jr.; and Dennis Pollack, Defendants.

United States District Court, D. New Jersey.

January 23, 1997.

Attorney(s) appearing for the Case

Drinker Biddle & Reath by Edward M. Posner, T. Andrew Culbert, Mary Catherine Roper, and Nancy L. Harris, Philadelphia, PA, for Plaintiff.

Bray, Chiocca, Rappaport & Rothstadt by Peter R. Bray, Parsippany, NJ, for Defendants.

OPINION

IRENAS, District Judge:

Plaintiff instituted this action on November 12, 1996, seeking a judgment declaring that defendants have failed to make all of the disclosures required by Schedules 13D and 14A of the Securities Exchange Act of 1934, 15 U.S.C. §§ 77b et seq. (the "Exchange Act"); that plaintiff may reject defendants' nomination to the board of directors for want of these disclosures;...

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