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FRANKEL v. SLOTKIN

No. 499, Docket 92-7678.

984 F.2d 1328 (1993)

Eli FRANKEL, Plaintiff-Appellant, v. Donald SLOTKIN, Carl H. Lindner, Louis A. Guzzetti, Jr., Keith E. Lindner, S. Craig Lindner, David H. Lubetzky, Jean H. Sisco, Ronald F. Walker, Jay Wells, American Financial Corporation, FMI Financial Corporation, United Brands Co., Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided January 25, 1993.

Attorney(s) appearing for the Case

Irving Malchman, New York City (Kaufman, Malchman, Kaufmann & Kirby, of counsel), for plaintiff-appellant.

Jay G. Strum, New York City (Peter M. Fishbein, Michael A. Lynn, Michael K. Rozen, Kaye, Scholer, Fierman, Hays & Handler, of counsel), for defendants-appellees.

Before: PRATT, ALTIMARI, Circuit Judges, and GERALD W. HEANEY, Senior Circuit Judge of the United States Court of Appeals for the Eighth Circuit, sitting by designation.

HEANEY, Senior Circuit Judge:

Eli Frankel, a minority shareholder of United Brands Company (UB), brought a shareholder derivative suit on behalf of UB against the directors of UB and two other corporations, alleging securities fraud under both federal and state law. The district court dismissed two of Frankel's claims prior to discovery and granted summary judgment to the defendants on the others following discovery. We affirm, but for reasons other than those advanced...

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