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C.R.A. REALTY CORP. v. TRI-SOUTH INVESTMENTS

No. 81 Civ. 6611 (ADS).

568 F.Supp. 1190 (1983)

C.R.A. REALTY CORP., Plaintiff, v. TRI-SOUTH INVESTMENTS and Drexel Burnham Lambert, Inc., Defendants.

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

August 17, 1983.

Attorney(s) appearing for the Case

David Lopez, P.C., New York City, for plaintiff.

Hess, Segall, Guterman, Pelz, Steiner & Barovick, New York City, for defendant Drexel Burnham Lambert, Inc.; Charles H. Miller, Michael P. Zweig, New York City, of counsel.

MEMORANDUM OPINION AND ORDER

SOFAER, District Judge:

Between June 5, 1979 and November 11, 1981 defendant Drexel Burnham Lambert, Inc. ("DBL") purchased and sold convertible debentures and common stock of defendant Tri-South Investments ("TSI"), a company in which over 10% of the common stock was owned by DBL. Plaintiff C.R.A. Realty Corp. is a TSI shareholder. It claims that DBL's transactions in TSI securities from June 1979 to November 1981 violated ...

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