IN RE ROCKEFELLER CENTER PROPERTIES, INC.

Nos. 01-1755, 01-1756.

311 F.3d 198 (2002)

In re: ROCKEFELLER CENTER PROPERTIES, INC. SECURITIES LITIGATION, Charal Investment Company Inc., a New Jersey Corporation; C.W. Sommer & Co., a Texas Partnership, on behalf of themselves and all others similarly situated; Alan Freed; Jerry Crance; Helen Scozzanich; Sheldon P. Langendorf; Rita Walfield; Robert Flashman; Renee B. Fisher Foundation Inc.; Frank Debora; Wilson White; Stanley Lloyd Kaufman, Jr.; Joseph Gross v. David Rockefeller; Goldman Sachs Mortgage Co.; Goldman Sachs Group LP; Goldman Sachs & Co.; Whitehall Street Real Estate Limited Partnership V; WH Advisors Inc. V; WH Advisors LP V; Daniel M. Neidich; Peter D. Linneman; Richard M. Scarlata Frank Debora; Wilson White; Stanley Lloyd Kaufman, Jr.; Joseph Gross, Charal Investment Company Inc., a New Jersey Corporation; C.W. Sommer & Co., a Texas Partnership, on behalf of themselves and all others similarly situated; Alan Freed; Jerry Crance; Helen Scozzanich; Sheldon P. Langendorf; Rita Walfield; Robert Flashman; Renee B. Fisher Foundation Inc.; Frank Debora; Wilson White; Stanley Lloyd Kaufman, Jr.; Joseph Gross v. David Rockefeller; Goldman Sachs Mortgage Co.; Goldman Sachs Group LP; Goldman Sachs & Co.; Whitehall Street Real Estate Limited Partnership V; WH Advisors Inc. V; WH Advisors LP V; Daniel M. Neidich; Peter D. Linneman; Richard M. Scarlata Charal Investment Company Inc.; C.W. Sommer & Co.; Renee B. Fisher Foundation; Helen Scozzanich; Jerry Crance; Alan Freed; Sheldon P. Langendorf; Rita Walfield; Robert Flashman,

United States Court of Appeals, Third Circuit.

Decided November 8, 2002.


Attorney(s) appearing for the Case

Michael D. Donovan (argued), Donovan Searles, LLC, Philadelphia, PA, for Appellants.

Pamela S. Tikellis, Chimicles & Tikellis, LLP, Wilmington, DE, for Appellants.

James R. Malone, Jr., Chimicles & Tikellis, LLP, Haverford, PA, for Appellants.

Ann Miller, Philadelphia, PA, for Appellants.

Max Gitter (argued), Cleary Gottlieb Steen & Hamilton, New York, NY, for Appellees, Goldman Sachs Mortgage Co., Goldman Sachs Group LP, Goldman Sachs & Co., Whitehall, Street Real Estate Limited, Partnership V, WH Advisors, Inc., WH Advisors LP V, and Daniel M. Neidich.

Richard A. Rosen, Robert N. Kravitz, Paul, Weiss, Rifkind, Wharton & Garrison, New York, NY, for Appellees, Goldman Sachs Mortgage Co., Goldman Sachs Group LP, Goldman Sachs & Co., Whitehall, Street Real Estate Limited, Partnership V, WH Advisors, Inc., WH Advisors LP V, and Daniel M. Neidich.

Robert K. Payson, Potter Anderson & Corroon LLP, Wilmington, DE, for Appellees, Peter D. Linneman and Richard M. Scarlata.

Russell E. Brooks, Milbank, Tweed, Hadley & McCloy, New York, NY, for Appellee, David Rockefeller.

Richard D. Allen, Morris, Nichols, Arsht & Tunnell, Wilmington, DE, for Appellee, David Rockefeller.

Before: RENDELL, FUENTES, and MAGILL, Circuit Judges.


OPINION OF THE COURT

FUENTES, Circuit Judge.

This appeal marks the second time that we address the underlying dispute between the parties. The controversy relates to the landmark Rockefeller Center in midtown Manhattan and arises out of the proxy solicitation in connection with the acquisition of Rockefeller Center Properties, Inc. ("RCPI") by a consortium of investors, including David Rockefeller, Whitehall Street...

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