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LASKER v. BURKS

No. 73 Civ. 552 (HFW).

426 F.Supp. 844 (1977)

Howard M. LASKER and Irving Goldberg, Plaintiffs, v. Harry G. BURKS, Jr., et al., Defendants.

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

January 7, 1977.

Attorney(s) appearing for the Case

Aranow, Brodsky, Bohlinger, Benetar & Einhorn, New York City, by Anthony L. Tersigni, Herbert A. Einhorn, David J. Sweet, Steven Mallis, New York City, of counsel, for plaintiffs.

Seward & Kissel, New York City, for defendant Fundamental Investors, Inc.

Pollack & Kaminsky, New York City, for defendants Anchor Corp., Burr, Chalker, Haire & Hutchinson.

Dewey, Ballantine, Bushby, Palmer & Wood, New York City, for defendants Burks, Hopkins, Kemmerer, Monroney, Phillips and Wade.

OPINION

WERKER, District Judge.

This action, brought derivatively by two shareholders on behalf of Fundamental Investors, Inc. ("Fundamental" or the "Fund"), a registered investment company, seeks to recover damages resulting from the Fund's purchase of $20 million in 270-day notes issued by the now bankrupt Penn Central Transportation Company. The defendants are Anchor Corporation ("Anchor"), the registered investment adviser to the Fund, and several past...

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