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UNION HUDSON SEC. CO. v. FED. DEPOSIT INS. CORP.

3 N.J. Super. 299 (1949)

64 A.2d 914

UNION HUDSON SECURITIES COMPANY ET AL., PLAINTIFFS, v. FEDERAL DEPOSIT INSURANCE CORPORATION AND THE TRUST COMPANY OF NEW JERSEY, DEFENDANTS.

Superior Court of New Jersey, Chancery Division.

Decided March 25, 1949.

Attorney(s) appearing for the Case

Mr. Thomas B. Davidson and Mr. Aaron A. Melniker, attorneys for the plaintiff Union Hudson Securities Company et al.

Mr. John D. Craven, attorney for the plaintiff H. Prescott Wells, trading as Outwater & Wells.

Messrs. O'Mara, Conway & Schumann, attorneys for the defendant Federal Deposit Insurance Corporation.

Mr. William H. Speer, attorney for the defendant the Trust Company of New Jersey.

KAYS, J.S.C.

This matter came before me on a motion by the defendants to dismiss the complaint filed herein on the ground that it fails to state a claim upon which relief can be granted.

The complaint alleges that plaintiffs were common stockholders of the West Bergen Trust Company who exchanged their stock for common stock of The Trust Company of New Jersey upon the merger of the two corporations in accordance with an agreement of merger dated March 10, 1939...

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