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CROWELL v. PITTSBURGH & LAKE ERIE RAILROAD COMPANY

Civ. A. No. 72-1408.

373 F.Supp. 1303 (1974)

Mary S. CROWELL et al. v. The PITTSBURGH & LAKE ERIE RAILROAD COMPANY et al.

United States District Court, E. D. Pennsylvania.

March 8, 1974.

Attorney(s) appearing for the Case

Victor Wright, Fox, Rothschild, O'Brien & Franke, Philadelphia, Pa., for plaintiffs.

Frederick N. Egler, Egler, McGregor & Reinstadtler, Pittsburgh, Pa., for Pittsb. & Lake Erie RR.

Thomas B. Rutter, Philadelphia, Pa., for Perlman.

Gilbert J. Helwig, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., for Allyn, Balliet, Cameron, Carroll, Hodge, Neuenschwander, Rockwell and VanPelt.

Philip H. Strubing, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for Kirby, Snyder, Jr., Snyder, III.

Robert W. Sayre, Saul, Ewing, Remick & Saul, Philadelphia, Pa., for Maxwell.

Lewis H. Van Dusen, Jr., Drinker, Biddle & Reath, Philadelphia, Pa., for Gorman.

OPINION AND ORDER

GORBEY, District Judge.

On July 18, 1972, eleven minority shareholders of The Pittsburgh & Lake Erie Railroad Company (P&LE) filed a complaint which questioned two series of transactions between P&LE and the Penn Central Transportation Company (Penn Central), the holder of a majority of P&LE's stock. The transactions at issue are: first, the financing of rebuilt railroad cars, which were purchased by P&LE from Penn Central...

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