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PACKER v. YAMPOL

No. 86 Civ. 1841 (WCC).

630 F.Supp. 1237 (1986)

Joel PACKER and G & P Independent Management Corp., on behalf of themselves and as shareholders of Graphic Scanning Corp., in part derivatively in the right of Graphic Scanning Corp., Plaintiffs, v. Barry YAMPOL, Nathan Bellow, Arthur J. Radin, Stanley Itskowitch, and Michael Beckman, Defendants, and Graphic Scanning Corp., Nominal Defendant.

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

March 25, 1986.

Attorney(s) appearing for the Case

Willkie Farr & Gallagher, New York City, for plaintiffs Joel Packer and G & P Independent Management Corp.; Gerald Kerner, of counsel.

Milberg, Weiss, Bershad, Specthrie & Lerach, New York City, for defendant Barry Yampol; Melvyn I. Weiss, Robert P. Sugarman, Alan Schulman, Jeremy Heisler, Robert A. Wallner, of counsel.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendants Nathan Bellow, Arthur J. Radin, Stanley Itskowitch, and Michael Beckman; Robert L. Laufer, Alisa D. Shudofsky, of counsel.

Spengler, Carlson, Gubar, Brodsky & Frischling, New York City, for Nominal defendant Graphic Scanning Corp.; Edward Brodsky, Robert Knuts, of counsel.

OPINION AND ORDER

WILLIAM C. CONNER, District Judge:

Plaintiffs Joel Packer ("Packer") and G & P Independent Management Corporation ("G & P") are beneficial owners of 10,100 and 100 shares respectively of the common stock of Graphic Scanning Corporation ("Graphic"). They commenced this action against the members of Graphic's board of directors alleging violations of section 10(b) of the Securities Exchange Act of 1934 ("the '34 Act"), 15 U.S.C. ...

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