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SCHLUSSELBERG v. COLONIAL MANAGEMENT ASSOC., INC.

Civ. A. No. 71-1052-F.

389 F.Supp. 733 (1974)

Claire SCHLUSSELBERG, Trustee Under Agreement Dated October 1, 1959 f/b/o Carol Sands, et al. v. COLONIAL MANAGEMENT ASSOCIATES, INC., et al.

United States District Court, D. Massachusetts.

October 17, 1974.

Attorney(s) appearing for the Case

Harvey A. Silverglate, Boston, Mass., for plaintiffs.

George T. Finnegan, Ropes & Gray, Laurence M. Johnson, Nutter, McClennen & Fish, Christian M. Hoffman, Foley, Hoag & Eliot, Boston, Mass., for defendants.

OPINION

FREEDMAN, District Judge.

A proposed settlement of a consolidated shareholders' derivative suit, originally brought on behalf of nominal defendant Colonial Equities, Inc. by plaintiff Schlusselberg, came before the Court on August 26, 1974 for its approval pursuant to Federal Rule of Civil Procedure 23.1. After extensive discovery, the Colonial Fund, Inc., Colonial Growth Shares, Inc., and Colonial Ventures, Inc.,1 (hereinafter...

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