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CLEMENTE GLOBAL GROWTH FUND, INC. v. PICKENS

No. 88 Civ. 5317 (JFK).

705 F.Supp. 958 (1989)

CLEMENTE GLOBAL GROWTH FUND, INC., Plaintiff, v. T. Boone PICKENS, III, Oliver R. Grace, Jr., John S. Grace, Grace-Pickens Acquisition Corp., Sumter Partners, L.P., Grace-Merrill, L.P., Drake Associates L.P., Anglo-American Security Fund, L.P., Sterling Grace Capital Management, L.P. and Churchill Associates, L.P., Defendants.

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

As Amended February 3, 1989.

Attorney(s) appearing for the Case

Gaston & Snow, New York City (Charles M. Mattingly and Donald N. Cohen, of counsel), for plaintiff.

Olshan, Grundman & Frome, New York City (Elyse S. Goldweber, Jeffrey N. Bernstein and Jeffrey M. Schwartz, of counsel), for defendants.

OPINION AND ORDER

KEENAN, District Judge:

BACKGROUND

Plaintiff, Clemente Global Growth Fund, Inc. (the "Fund"), has filed a second amended complaint alleging that the defendants and their tender offer vehicle, Grace Pickens Global Acquisition Partners ("GPGAP"), have violated sections 13(d) and 14(e) of the Securities Exchange Act of 1934 (the "Exchange Act"), 15 U.S.C. §§ 78m(d), 78n(e) by launching "an illegal, inherently coercive and...

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