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NATIONAL BANK OF DETROIT v. WHITEHEAD & KALES CO.

Civ. A. No. 79-72531.

528 F.Supp. 940 (1981)

NATIONAL BANK OF DETROIT and Francis C. McMath, as executors of the Estates of Neil C. McMath and Margaret Kales McMath; Francis C. McMath, individually and as sole Trustee of Testamentary Trust under the will of Margaret Kales McMath; and Charles F. McMath, Charlon S. Hibbard, Margaret J. Chester, Elizabeth N. McMath, James L. Hibbard, Margaret M. Herring, Kenneth G. Herring, Bruce M. Herring and Kenneth G. Herring, Jr., Plaintiffs, v. WHITEHEAD & KALES COMPANY, Walter W. Borland, Robert G. Kales, Robert G. Kales, Jr., Roy L. Thurman, James F. Simpson, Hugo Huettig, III, Kales Kramer Investment Company, Alice Kales Hartwick, Ellen Kales Huettig, The Estate of Hugo G. Huettig, Jr., Alice H. Wenger, Virginia R. Riley, Jane Kales Ryan, William R. Hartwick, Ellen Hartwick Marks, Anne Kales Howson, Ellen Huettig Haynes, and Johnston Industries, Inc., Defendants.

United States District Court, E.D. Michigan, S.D.

December 22, 1981.

Attorney(s) appearing for the Case

David Olesker, Bressler, Lipsitz & Rothenberg, New York City, for plaintiffs.

Donald S. Young, Ronald S. Holliday, Detroit, Mich., for defendants, Whitehead & Kales Co. and Walter W. Borland.

Robert A. Fineman, Detroit, Mich., for defendants Johnston Industries, Inc.

Frank S. Galgan, Troy, Mich., for remaining defendants.

MEMORANDUM OPINION AND ORDER

ANNA DIGGS TAYLOR, District Judge.

Plaintiffs filed their complaint in this matter on July 2, 1979, alleging defendants' violations of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and of Rule 10(b)(5) of the Rules of the United States Securities and Exchange Commission, 17 CFR ¶ 240.10b-5, in the execution and implementation of a Stock Purchase and Option Agreement and subsequent transactions...

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