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SAVIN v. CSX CORP.

No. 86 Civ. 5790 (JMW).

657 F.Supp. 1210 (1987)

Ethel B. SAVIN, individually and on behalf of a class of former debentureholders similarly situated, Plaintiff, v. CSX CORPORATION (formerly Chessie Systems, Inc.), the Chesapeake & Ohio Railroad, the Baltimore and Ohio Railroad Company and the Chase Manhattan Bank, N.A., Defendants.

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

April 15, 1987.

Attorney(s) appearing for the Case

Michael P. Malakoff, Berger, Kapetan, Malakoff & Myers, P.C., Pittsburgh, Pa., Edwin J. Mills, Stull, Stull & Brody, New York City, for plaintiff.

Richard T. Wentley, Anthony J. Basinski, Joseph W. Klein, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., Robert C. Myers, Michele Gapinski, Dewey, Ballantine, Bushby, Palmer & Wood, New York City, for defendants.

WALKER, District Judge:

INTRODUCTION

Plaintiff Ethel B. Savin ("Savin") has brought a class action against Defendants CSX Corporation ("CSX"), The Chesapeake & Ohio Railroad Company ("C & O"), The Baltimore and Ohio Railroad Company ("B & O"), and The Chase Manhattan Bank, N.A. ("Chase"). The class action alleges that defendants committed securities fraud and a breach of fiduciary duty by failing to disclose B & O's declaration of a dividend...

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