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FREER v. MAYER

No. 91 Civ. 2519 (GLG).

796 F.Supp. 89 (1992)

David FREER, Jr., as a shareholder suing derivatively in the right of Progressive Bank, Inc., Plaintiff, v. E. Hale MAYER, Thomas C. Aposporos, Donald B. Dedrick, John J. Page, Elizabeth P. Allen, Francis H. Carey, George M. Coulter, Harold Harris, Richard T. Hazzard, Armando Mostachetti, Richard Novick, Peter Van Kleeck, and Progressive Bank, Inc., Defendants.

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

June 10, 1992.

Attorney(s) appearing for the Case

Serchuk & Zelermyer (Benjamin Zelermyer, Laurence S. Moy, of counsel), White Plains, N.Y., for plaintiff.

Cuddy & Feder (Thomas R. Beirne, of counsel), White Plains, N.Y., for all defendants except E. Hale Mayer.

OPINION

GOETTEL, District Judge.

Although we have set out the facts of this case in two previous decisions, Freer v. Mayer, No. 91 Civ. 2519, 1991 WL 355062 (S.D.N.Y. April 26, 1991), Freer v. Mayer, No. 91 Civ. 2519 (S.D.N.Y. May 8, 1992), we will recite them here in detail.

Progressive Bank, Inc. is a New York holding company whose only subsidiary is the Pawling Savings Bank, with its headquarters...

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