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GANS v. FILMWAYS, INC.

Civ. A. No. 78-614.

453 F.Supp. 1116 (1978)

Rita GANS and Bernard Gans, on behalf of themselves and all others similarly situated, Plaintiffs, v. FILMWAYS, INC., Bloch, Richard L., Nolan, L. Douglas, Grunburg, Robert A., Feldman, Edward S., Schier, Walter C., Roth, Harold, Manheimer, Lawrence H., Katz, Jack J., Pitt, Donald, di Scipio, Alfred, Union Fidelity Corporation, Dozor, Harry T., Cooney, John M., Harmon, James A., Richardson, James A., Rattner, Marshall R. and Cimino, Louis F., Defendants.

United States District Court, E. D. Pennsylvania.

June 26, 1978.

Attorney(s) appearing for the Case

Fine, Kaplan & Black, Aaron M. Fine, Philadelphia, Pa., for plaintiffs.

Richard D. Greenfield, P. C., Sterling H. Schoen, Jr., Robert P. Frutkin, Bala Cynwyd, Pa., for James Richardson.

David H. Pittinsky, Philadelphia, Pa., for defendants Filmways, Inc., Bloch, Nolan, Grunburg, Feldman, Schier, Roth, Manheimer, Katz, Pitt and Di Scipio.

Stuart H. Savett, Philadelphia, Pa., for Union Fidelity.

Matthew J. Broderick, Philadelphia, Pa. for defendants Dozor, Cooney, Harmon, Rattner and Cimino.

MEMORANDUM OF DECISION

McGLYNN, District Judge.

This case arises out of the merger of defendant Union Fidelity Corporation (Union) and defendant Filmways, Inc. (Filmways). Count I of the two count amended complaint charges that the joint proxy statement prepared by the defendants to solicit shareholder approval of the merger violated Section 14(a) of the Securities Exchange Act of 1934 (Exchange Act), 15 U.S.C. § 78n(a), and Rule 14a-9, 17 C.F.R. &...

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