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HOLMSTROM v. COASTAL INDUSTRIES, INC.

No. C80-670A.

645 F.Supp. 963 (1984)

Peter G. HOLMSTROM, Plaintiff, v. COASTAL INDUSTRIES, INC., et al., Defendants.

United States District Court, N.D. Ohio, E.D.

On Motion for Summary Judgment November 29, 1984.

On Motion to Withdraw Jury Demand October 23, 1986.

Attorney(s) appearing for the Case

Marvin L. Karp, Cleveland, Ohio, Robert B. Block, Pomerantz, Levy, Haudek & Block, New York City, for plaintiff.

Steven E. Sigalow, Joseph C. Weinstein, Buckingham, Doolittle & Burroughs, John M. Glenn, Akron, Ohio, for Reid, Champion Investments and Cascade Industries.

Tom Parker, Richard E. Guster, Roetzel & Andress, Akron, Ohio, for Coastal Industries.

Oscar A. Hunsicker, Brouse & McDowell, Akron, Ohio, for Predler and Forty-Four Forty, Inc.

Hugh M. Stanley, Jr., Arter & Hadden, Cleveland, Ohio, for Ryder, Kelley, Nelson, Siff and Reese.

Robert A. Downing, Sudley & Austin, Chicago, Ill., for Harbor Ins. Co.

MEMORANDUM OPINION

DOWD, District Judge.

By this action the plaintiff prosecutes a derivative shareholder's action against a number of the directors of Coastal Industries, Inc. on behalf of Coastal Industries.

At issue is the motion for summary judgment filed by Coastal Industries, Inc., whereby the plaintiff's complaint would be dismissed. For the reasons which follow, the motion for summary judgment...

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