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HOLSTEIN v. ARMSTRONG

No. 89 C 6092.

751 F.Supp. 746 (1990)

Robert A. HOLSTEIN, as Trustee for the Robert A. Holstein Ltd. Profit Sharing Fund, individually and on behalf of all others similarly situated, Plaintiff, v. Neil A. ARMSTRONG, Andrew F. Brimmer, Richard P. Cooley, E. Mandell Dewindt, William M. Jenkins, Juanita M. Kreps, John F. McGillicuddy, Fujio Matsuda, Harry Mulliken, James J. O'Connor, Frank A. Olson, Nicholas R. Petry, Ralph Stranges, John C. Pope, and Stephen M. Wolf, Defendants.

United States District Court, N.D. Illinois, E.D.

November 5, 1990.

Attorney(s) appearing for the Case

Burton I. Weinstein, Perry M. Berke, Baskin, Server, Berks & Weinstein, Chicago, Ill., for plaintiff.

Duane M. Kelley, Paul P. Biebel, Jr., Kevin E. White, Winston & Strawn, Chicago, Ill., for defendants.

MEMORANDUM OPINION AND ORDER

ROVNER, District Judge.

Plaintiff in this putative class action1 challenges the failure of directors and officers of UAL Corporation to immediately make public the alleged receipt of a takeover proposal from investor Marvin Davis on August 1, 1989. On August 4, 1989, plaintiff sold UAL stock on the open market for a price of approximately $170 per share. The takeover proposal was made public on August...

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