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WILSON v. GREAT AMERICAN INDUSTRIES, INC.

No. 80-CV-841.

763 F.Supp. 688 (1991)

Alexander WILSON, individually and as representative of all minority shareholders of Chenango Industries, Inc., other than defendants on and before October 18, 1979, Plaintiff, v. GREAT AMERICAN INDUSTRIES, INC. as a corporate entity and as a sole shareholder of Chenango Industries, Inc., Milton Koffman, Burton I. Koffman, Richard E. Koffman, as directors of Great American Industries, Inc., Chenango Industries, Inc., Joseph M. Stack as the representative of Chenango Industries in the merger between Chenango and Great American Industries, and Gary Crounse, David Keith Dyer and Sharon Lee Dyer, as Co-Executors of the Estate of David L. Dyer, deceased, William Starner, and Anthony Mincolla as directors of Chenango Industries, Inc., Defendants.

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

April 25, 1991.

Attorney(s) appearing for the Case

Coughlin & Gerhart (Peter H. Bouman, of counsel), Binghamton, N.Y., for plaintiff.

Beveridge & Diamond (John N. Hanson, John S. Guttmann, Daan H. Cannon, of counsel), Washington, D.C., for GAI defendants.

Hancock & Estabrook (Donald J. Kemple, of counsel), Syracuse, N.Y., for Chenango defendants.

MEMORANDUM-DECISION & ORDER

McCURN, Chief Judge.

On September 5, 1990, this court issued a memorandum-decision and order in which it awarded $776,000.00 in damages to the plaintiffs, a class of former minority shareholders in defendant Chenango Industries, Inc. ("Chenango"), for the fraudulent conduct of Chenango and defendant Great American Industries, Inc. ("GAI") in issuing a proxy statement as part of Chenango's merger into GAI in 1979. Wilson...

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