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FOGEL v. CHESTNUTT

No. 68 Civ. 2855.

493 F.Supp. 1192 (1980)

Rosalind FOGEL and Gerald Fogel, Plaintiffs, v. George A. CHESTNUTT, Jr., John Currier, Frank G. Fowler, Jr., Warren K. Greene, Richard W. Radcliffe, Stanley L. Sabel, Francis L. Veeder, American Investors Corporation, American Investors Fund, Inc., Chestnutt Corp., Defendants.

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

June 19, 1980.

Attorney(s) appearing for the Case

Pomerantz Levy Haudek & Block, New York City, for plaintiffs; Richard M. Meyer, New York City, of counsel.

Clendon H. Lee, New York City, for defendants Chestnutt, Jr., Currier, Sabel, Greene, Chestnutt Corp. and American Investors Corp.

Rogers & Wells, New York City, for American Investors Fund, Inc., defendant; William F. Koegel, New York City, of counsel.

WYATT, District Judge:

This is the decision on the issue of damages to be awarded against defendants Chestnutt Corporation, Chestnutt, Jr., Sabel, Greene, and Currier in favor of American Investors Fund, Inc. (the Fund) for whose benefit this derivative action was brought by the two Fund stockholders who are plaintiffs.

The action was tried to this Court without a jury on the issue of liability alone. There was a demand for a jury trial by plaintiffs but,...

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