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BLATT v. DEAN WITTER REYNOLDS INTERCAPITAL, INC.

No. 79 Civ. 5489 (MEL).

566 F.Supp. 1294 (1983)

Irwin B. BLATT and Esther Blatt, Plaintiffs, v. DEAN WITTER REYNOLDS INTERCAPITAL INC., Dean Witter Reynolds Organization Inc., and Intercapital Liquid Asset Fund Inc., Defendants.

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

July 1, 1983.

Attorney(s) appearing for the Case

Pomerantz, Levy, Haudek & Block, Harry W. Jacobs, New York City, for plaintiffs; Stanley M. Grossman, Stephen P. Hoffman, New York City, of counsel.

Sullivan & Cromwell, New York City, for defendants Dean Witter Reynolds Intercapital, Inc. and Dean Witter Reynolds Organization, Inc.; Marvin Schwartz, Mark F. Rosenberg, New York City, of counsel.

Gordon, Hurwitz, Butowsky, Baker, Weitzen & Shalov, New York City, for InterCapital Liquid Asset Fund Inc.; David Butowsky, New York City, of counsel.

LASKER, District Judge.

This derivative action was brought by shareholders of InterCapital Liquid Asset Fund Inc. ("the Fund") against Dean Witter Reynolds InterCapital Inc. ("the Manager") and its parent Dean Witter Reynolds Organization Inc. ("Dean Witter") claiming that the management fees charged to the Fund by the Manager were excessive and disproportionate to the services rendered and thereby violated the Investment Company Act of 1940 as amended, 15 U.S.C....

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