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BRICKMAN v. TYCO TOYS, INC.

No. 88 Civ. 3936 (RLC).

722 F.Supp. 1054 (1989)

Lester BRICKMAN, Plaintiff, v. TYCO TOYS, INC., Samuel Ofrichter, Richard E. Grey, John A. Selzer, Ariel Gratch, Jerome I. Gellman, Joel M. Handel, Savoy Industries, Inc., Benson A. Selzer, Geoffrey T. Selzer, the Selzer Group, L.P., and Harry J. Pearce, Defendants.

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

October 4, 1989.

Attorney(s) appearing for the Case

Goodkind, Labaton & Rudoff, New York City, for plaintiff; Edward Labaton, Joseph V. Sternberg and Richard Paley, of counsel.

Curtis, Mallet-Prevost, Colt & Mosle, New York City, for defendant Tyco Toys, Inc.; Joseph D. Pizzurro, of counsel.

Baer Marks & Upham, New York City, for defendants Samuel Ofrichter, John A. Selzer, Ariel Gratch, Jerome I. Gellman, Joel M. Handel, Benson A. Selzer, Geoffrey T. Selzer and The Selzer Group, L.P.; Alan D. Dinkoff, of counsel.

Blodnick & Pomeranz, Lake Success, N.Y., for defendants Richard E. Grey and Harry J. Pearce; Mark M. Rottenberg and Frederick Newman, of counsel.

Olwine, Connelly, Chase, O'Donnell & Weyher, New York City, for defendant Savoy Industries, Inc.; Charles M. McCaghey, of counsel.

OPINION

ROBERT L. CARTER, District Judge.

Preliminary Statement

Plaintiff, a shareholder of Tyco Toys, Inc. ("Tyco"), here joins two distinct actions. The first is a class action alleging securities fraud brought on behalf of purchasers of Tyco stock in which Tyco, among others, is named as a defendant.1 The second is a derivative action on behalf of Tyco against all the other defendants for breach of fiduciary...

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