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BURTON v. EXXON CORP.

No. 81 Civ. 5040 (GLG).

536 F.Supp. 617 (1982)

John R. BURTON, suing on behalf of himself and all other similarly situated holders of $7 Cumulative Second Preferred Stock of European Gas & Electric Company, Plaintiff, v. EXXON CORPORATION, European Gas & Electric Company, R. F. Dilworth, D. G. Gill and W. W. Stewart, Defendants.

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

As Amended April 19, 1982.

Attorney(s) appearing for the Case

Dickstein, Shapiro & Morin, New York City and Chestnut & Brooks, P.A., Minneapolis, Minn., for plaintiff and plaintiff class; Leonard Garment, Peter W. Morgan, New York City, and Thomas H. Graham, Minneapolis, Minn., of counsel.

Sullivan & Cromwell, New York City, for defendant Exxon Corp.; Roy H. Steyer, Robert M. Osgood, Nadine Strossen, Albert P. Lindemann, Jr., Kenneth M. Bialo, New York City, of counsel.

Walsh & Frisch, New York City, for European Gas & Elec. Co.; Jerome K. Walsh, Richard M. Auerbach, New York City, of counsel.

Satterlee & Stephens, New York City, for defendants Dilworth, Gill and Stewart; Robert M. Callagy, Ronald R. Papa, New York City, of counsel.

OPINION

GOETTEL, District Judge:

This is a diversity action brought by the plaintiff John Burton, a holder of "$7 Cumulative Second Preferred Stock" (Second Preferred) in the European Gas & Electric Company (Eurogasco),1 against Eurogasco, the Exxon Corporation, R. F. Dilworth, D. G. Gill, and W. W. Stewart. He alleges that they breached their fiduciary duties to all Second Preferred...

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