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BANK AND TRUST CO. OF OLD YORK ROAD v. HANKIN

Civ. A. No. 80-1550.

552 F.Supp. 1330 (1982)

BANK AND TRUST COMPANY OF OLD YORK ROAD, et al. v. Perch P. HANKIN, et al.

United States District Court, E.D. Pennsylvania.

December 22, 1982.

Attorney(s) appearing for the Case

Richard D. Greenfield, Robert P. Frutkin, Greenfield & Chimicles, P.C., Bala Cynwyd, Pa., Arnold Levin, Bala Cynwyd, Pa., for plaintiff.

Edward C. Mangel, Jr., Lawrence T. Bowman, White & Williams, Philadelphia, Pa., for defendants.

MEMORANDUM

GILES, District Judge.

This action combines a claim under the federal securities laws for omissions in proxy materials with a state derivative action for breach of various fiduciary duties. Defendants now move for summary judgment. For the reasons which follow, the motion will be granted in part, and denied in part.

I. BACKGROUND

A. Parties

Plaintiff Bernard M. Gross is a minority shareholder of the Bank of Old...

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