SEAGOING UNIFORM CORP. v. TEXACO, INC.

No. 84 Civ. 1730 (CBM).

705 F.Supp. 918 (1989)

SEAGOING UNIFORM CORPORATION, Plaintiff, v. TEXACO, INC., et al., Defendants.

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

January 24, 1989.


Attorney(s) appearing for the Case

Silverman & Harnes by Joan Harnes, New York City, for plaintiff.

Simpson Thacher & Bartlett by Roy L. Reardon, George M. Newcombe, Mary Elizabeth McGarry, Elizabeth A. Forman, New York City, for defendants Bass Brothers Enterprises, Inc., Bass Brothers Development Co., Perry R. Bass, Inc., Sid Richardson Carbon & Gasoline Co., Perry R. Bass, Sid R. Bass, E.P. Bass, Robert M. Bass, Lee M. Bass, Richard E. Rainwater, Alfred A. Checchi, Thomas M. Taylor, Wesley Guylay Capital Management and Wesley Richard Guylay.

Skadden, Arps, Slate, Meagher & Flom by Barry H. Garfinkel, New York City, for defendant Texaco Inc.


OPINION

MOTLEY, District Judge.

I. BACKGROUND

In 1984, the Bass defendants, a group of investors, purchased a large quantity of Texaco stock. Pursuant to the provisions of Section 13(d)(1) of the Securities Exchange Act of 1934, the Basses filed a Schedule 13(d) statement representing that the acquisition was solely for investment purposes. Soon thereafter, defendant Texaco announced it would...

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