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HONIGMAN v. GREEN GIANT COMPANY

No. 4-60-Civ.-176.

208 F.Supp. 754 (1961)

Edith HONIGMAN, individually and on behalf of all Class B stockholders of the Green Giant Company, Plaintiff, v. GREEN GIANT COMPANY, a Minnesota corporation; J. J. Babb, E. C. Brown, E. B. Cosgrove, R. C. Cosgrove, W. F. Dietrich, L. E. Felton, T. G. Harrison, J. P. Houck, C. P. Jaffray, M. H. Morris, A. D. Radebaugh, G. C. Scott, A. R. Upgren, L. C. Volling, and C. S. Vrtis, individually and as Directors of the Green Giant Company; Minnesota Valley Corporation, a Minnesota corporation; and First National Bank of Minneapolis, a national banking corporation, Defendants.

United States District Court D. Minnesota, Fourth Division.

August 22, 1961.

Attorney(s) appearing for the Case

Maurice S. Binkow and Jonathan Sobeloff, of Honigman, Miller & Schwartz, Detroit, Mich., and Bert M. Gross, of Phillips & Gross, Minneapolis, Minn., appeared in behalf of plaintiff.

John J. McKasy, of Thompson, Hessian, Fletcher & McKasy, Minneapolis, Minn., appeared in behalf of defendants.

Walter P. North, Gen. Counsel, Mr. David Ferber, Asst. Gen. Counsel, and Faith Colish, Attorney, Securities and Exchange Commission, Washington, D. C., filed a brief amicus curiae.

NORDBYE, District Judge.

This cause came before the Court for trial without a jury. Jurisdiction is based upon diversity of citizenship.

The plaintiff, Edith Honigman, a resident and citizen of Michigan, is the owner of 1,570 shares of Class B nonvoting stock in the defendant company, a Minnesota corporation. She allegedly brings this action in behalf of herself and all other Class B stockholders, and derivatively in behalf of the corporation against the company...

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