Fed. Sec. L. Rep. P 96,589 Jo v. Seibert v. Sperry Rand Corporation and James D. Finley

VAN GRAAFEILAND, Circuit Judge:

On June 24, 1977, Sperry Rand management proposed a slate of eleven candidates for election to the corporation’s board at the July 1977 annual meeting. All of the candidates were incumbents, and together they had a total of sixty-four years of prior service as Sperry directors. All of them were also officers or directors of at least one other company, several serving on at least six different corporate boards. The slate as a whole had outside affiliations with at least forty companies. All of the foregoing information was contained in the proxy statements that…