Mendell v. Greenberg

CARDAMONE, Circuit Judge:

Sixty years ago in 1930 Charles Loeh-mann founded what later became a chain of women’s clothing stores offering customers high quality clothing at prices below those of many upscale department stores. When Mr. Loehmann who held the largest block of the company’s stock died in 1977, and his widow, Anita T. Loehmann, died three years later, their daughter, Anita Loehmann Stafford, became the fiduciary of the estates. She sought to sell the Loehmann family’s holdings. Divestment of the stock came by way of a merger in January 1981 with a subsidiary of defendant AEA…