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COLONIAL REALTY CORPORATION v. MacWILLIAMS

No. 74 Civ. 1818.

381 F.Supp. 26 (1974)

COLONIAL REALTY CORPORATION, Plaintiff, v. John MacWILLIAMS, Jr., et al., Defendants.

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

August 21, 1974.

Attorney(s) appearing for the Case

Pomerantz Levy Haudek & Block, New York City, for plaintiff.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendants.

GURFEIN, District Judge:

This is a shareholder's derivative action brought by plaintiff in the name of Colonial Realty Corporation (Colonial) against two officers of Colonial Penn Group, Inc. (CPG). The complaint alleges that defendants MacWilliams (chief executive officer and chairman of CPG's board of directors) and Brennan (CPG's senior vice president and treasurer) are liable to CPG pursuant to § 16(b) of the Securities...

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