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KAUFMAN v. WOLFSON

136 F.Supp. 939 (1955)

Stanley L. KAUFMAN, Plaintiff, v. Louis E. WOLFSON, J. A. B. Broadwater, E. B. Gerbert, David A. Goodkind, Robert E. Harvey, Alexander Rittmaster, Cecil Wolfson, Samuel Wolfson, H. W. Pierce, Robert C. Baker, Robert L. Purcell, Doran S. Weinstein, New York Shipbuilding Corporation and Devoe & Raynolds Company, Inc., Defendants.

United States District Court S. D. New York.

December 16, 1955.

Attorney(s) appearing for the Case

Kaufman, Imberman & Taylor, New York City, for plaintiff, Jacob Imberman, New York City, of counsel.

Manning, Hollinger & Shea, New York City, for individual defendants, Louis E. Wolfson, et al., Edwin A. Lewis, New York City, of counsel.

Lawler & Rockwood, New York City, for defendants New York Shipbuilding Corp. and Devoe & Raynolds Co., Inc.,

DIMOCK, District Judge.

This is a motion by plaintiff to vacate a stay of a stockholder's derivative action brought in this court under the diversity jurisdiction. The action was stayed until plaintiff should furnish security in the amount of $50,000 pursuant to section 61-b of the New York General Corporation Law, Consol.Laws, c. 23. That section requires in substance that a plaintiff in a stockholder's derivative action shall give security for defendant's expenses...

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