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THOMAS v. GENESCO, INC.

No. 76 Civ. 3094 (PNL).

498 F.Supp. 1060 (1980)

George M. THOMAS, Reuben Thomas, William B. Thomas, Aaron R. Thomas, Stephen J. Thomas, Celeste Thomas, Joan Ellen Thomas, Gael Thomas, Martin J. Thomas, Susan B. Goldman, Susan B. Goldman as Custodian under U.G. M.A. for Daniel Goldman, Susan B. Goldman as Custodian under U.G.M.A. for Noah Goldman, William B. Thomas as Custodian under U.G.M.A. for Edward Seth Thomas, William B. Thomas as Custodian under U.G.M.A. for Philip Shale Thomas, and William B. Thomas as Custodian under U.G.M.A. for Eileen Thomas, Plaintiffs, v. GENESCO, INC., Defendant.

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

July 18, 1980.

Attorney(s) appearing for the Case

Arthur L. Liman, Doris Carroll of Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for plaintiffs.

Michael H. Diamond, Jerome S. Hirsch of Skadden, Arps, Slate, Meagher & Flom, New York City, for defendant.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

LEVAL, District Judge.

George M. Thomas and other members of his family ("plaintiffs" or "the Thomases"), all holders of a junior preferred stock of the defendant, brought this action against Genesco, Inc. ("defendant") alleging breach of contract and violation of the terms of the preferred stock. The plaintiffs contend that Genesco breached its obligation to redeem, and pay dividends on, preferred stock which was...

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