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ZELLER v. BOGUE ELECTRIC MANUFACTURING CORPORATION

No. 71 Civ. 5502.

346 F.Supp. 651 (1972)

Herman L. ZELLER, Plaintiff, v. BOGUE ELECTRIC MANUFACTURING CORPORATION et al., Defendants.

United States District Court, S. D. New York.

August 7, 1972.

Attorney(s) appearing for the Case

Powers & Gross, New York City, for plaintiff, by Lawrence M. Powers, New York City, of counsel.

Becker, Ross & Stone, New York City, for defendants Bogue Electric Manufacturing Corp., Edward P. Schinman, Robert S. Herwig, William S. Guttenberg and Murray Reiffin, by Alexander Stone, James J. Ross, William C. Kratenstein, New York City, of counsel.

D'Amato, Costello & Shea, New York City, for defendant Irwin Small & Co., by Richard G. McGahren, New York City, of counsel.

Barry Kessler, New York City, for defendant Belco Pollution Control Corp.

GURFEIN, District Judge.

This is a derivative action on behalf of a corporation to recover damages from members of its board of directors, its controlling shareholder and its accounting firm, that accrued as a result of an alleged scheme to defraud the corporation in violation of Rule 10b-5 and § 10(b) of the Securities Exchange Act of 1934 (17 C.F.R. § 240.10b-5, 15 U.S. C. § 78j(b)).1 The action was commenced December...

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