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GALFAND v. CHESTNUTT

No. 73 Civ. 3849.

402 F.Supp. 1318 (1975)

Mildred GALFAND, on behalf of herself and on behalf of American Investors Fund, Inc., Plaintiff, v. George A. CHESTNUTT, Jr., and Chestnutt Corporation, Defendants, and American Investors Fund, Inc., Nominal Defendant.

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

Supplemental Findings and Conclusions November 10, 1975.

Attorney(s) appearing for the Case

Kreindler & Kreindler, New York City, for plaintiff.

Rogers Hoge & Hills, New York City, for defendants.

FINDINGS AND CONCLUSIONS

BRIEANT, District Judge.

This shareholder's derivative action was commenced on July 6, 1973 in the United States District Court for the Eastern District of Pennsylvania, seeking a preliminary injunction to restrain American Investors Fund from conducting its annual shareholders meeting set for July 17, 1973.

Plaintiff owns 86 whole shares of American Investors Fund, a New York corporation ("AIF" or the "Fund"), an open-end...

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