Newman v. United Profit-Sharing Corp.

This motion for a temporary injunction

is denied. Defendant United is a Delaware corporation with 19,621 shares of preferred stock and 336,984 shares of common stock outstanding. Some 14,621 shares of the preferred are held by the public, of which plaintiff holds 150 shares, purchased in June, 1958 after the public had been notified by press statements and a proposal to be passed on by the Securities Exchange Commission also publicly known. This proposal, contained in a proxy statement, was sent to the shareholders under date of August 6, 1958 by the president of United, Henry W. Hainiek. The…