WELLMAN v. DICKINSON

Nos. 78 Civ. 284 (RLC), 78 Civ. 291 (RLC), 78 Civ. 345 (RLC), 78 Civ. 539 (RLC), 78 Civ. 1025 (RLC), 78 Civ. 1055 (RLC) and 78 Civ. 1156 (RLC).

497 F.Supp. 824 (1980)

Arnold S. WELLMAN, Plaintiff, v. Fairleigh S. DICKINSON et al., Defendants. Mordecai ROSENFELD, Plaintiff, v. SUN COMPANY, INC., et al., Defendants. JAY-GRO FABRICS, INC. PENSION TRUST, Plaintiff, v. SUN COMPANY, INC., et al., Defendants. BECTON, DICKINSON AND COMPANY et al., Plaintiffs, v. SUN COMPANY, INC., et al., Defendants. Morton PUPKO, Plaintiff, v. Fairleigh S. DICKINSON, Jr., et al., Defendants. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. SUN COMPANY, INC., et al., Defendants. Rubin POLNE, Plaintiff, v. SUN COMPANY, INC., et al., Defendants.

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

July 31, 1980.


Attorney(s) appearing for the Case

Theodore Sonde, Charles L. Lerner, Robert B. Blackburn, Robert Romano, Washington, D. C., of counsel, for Securities Exchange Commission.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for Becton, Dickinson & Company; Arthur Liman, Robert Smith, Jack Hassid, Susan P. Carr, Colleen McMahon, Paul B. Kertman, New York City, of counsel.

Parker, Auspitz, Nesseman & Delehanty, New York City, for other plaintiffs; Jack C. Auspitz, Barrington Parker, New York City, of counsel.

Kreindler & Kreindler, New York City, for Jay-Gro Fabrics Inc. Pension Trust and lead counsel for class plaintiffs; Paul Bernstein, Edward Grossman, New York City, of counsel.

Kaye, Scholer, Fierman, Hays & Handler, New York City, Wachtell, Lipton, Rosen & Katz, New York City, for Sun Co., Inc.; Peter M. Fishbein, Jay G. Strum, Vincent J. Syracuse, Harvey Belkin, Barry Willner, Jay Wishingrad, New York City, Douglas S. Liebhafsky, Peter C. Hein, New York City, of counsel.

Orans, Elsen, Polstein & Naftalis, New York City, for Fairleigh S. Dickinson and Ann Turner Dickinson; Sheldon H. Elsen, Leslie A. Lupert, Robert Polstein, Paul Summit, New York City, of counsel.

Cleary, Gottlieb, Steen & Hamilton, New York City, for Salomon Bros., F. Eberstadt & Co.; Edmund H. Kerr, Judith Ripps, Steven Hartz, New York City, of counsel.

Sullivan & Cromwell, New York City, for Chemical Fund, Inc., Survey Fund Inc.; Marvin Schwartz, Michael Barron, New York City, of counsel.

Norman Annenberg, New York, for Bernard and Toby Feinstein.


OPINION

ROBERT L. CARTER, District Judge.

Status of the Proceeding

The final stage has now been reached, at least in this court, of the litigation spawned by the acquisition in January, 1978, by Sun Company, Inc. ("Sun") of approximately 34% of the stock of Becton, Dickinson & Co. ("BD"). The nature and history of this bifurcated action is detailed in the opinion, reported at 475 F.Supp. 783 (D.C...

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