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GLUCK v. FRANKEL

No. 77 Civ. 1071.

440 F.Supp. 1143 (1977)

Frances GLUCK, Plaintiff, v. Andrew J. FRANKEL, Morton A. Sweig, Paul Milstein, Arthur E. O'Donnell, Eugene R. Black, Emanuel Gerard, Salim L. Lewis, Martin D. Payson, Milton C. Weisman, Charles A. Agemian, Lawrence B. Buttenwieser, Allan B. Ecker, Jay Emmett, Steven J. Ross, David H. Horowitz, Caesar P. Kimmel, Jacob S. Liebowitz, Edward Rosenthal, Alfred R. Stern and Warner Communications, Inc., Defendants.

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

November 17, 1977.

Attorney(s) appearing for the Case

Garwin & Bronzaft by Bertram Bronzaft, New York City, for plaintiff.

Paul, Weiss, Rifkind, Wharton & Garrison by Max Gitter, New York City, for defendants Agemian, Black, Emmett, Gerard, Horowitz, Kimmel, Lewis, Liebowitz, Rosenthal, Ross and Stern.

Proskauer, Rose, Goetz & Mendelsohn by David I. Goldblatt, New York City, for defendant Milstein.

Kelley, Drye, Warren, Clark, Carr & Ellis by Charles E. McTiernan, Jr., New York City, for defendants Frankel and Sweig.

Gold, Farrell & Marks by Leonard Marks, New York City, for defendant Warner Communications, Inc.

MEMORANDUM AND ORDER

BRIEANT, District Judge.

Plaintiff, a shareholder of defendant Warner Communications, Inc. ("Warner") filed this action on March 4, 1977 derivatively on behalf of Warner. The individual defendants are members of Warner's Board of Directors and four are present or former officers of National Kinney Corp. ("Kinney"). Plaintiff asserts claims predicated upon Section 7 of the Securities Exchange Act of 1934 ("Act"), Regulations G and X promulgated...

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