Zenn v. Anzalone

Owes" McG-rvEKtsr, J.

This is an application to confirm the report of a Referee and for approval of a proposed compromise of a consolidated stockholders’ derivative action, brought on behalf of Alleghany Corporation. The settlement, the fairness of which is before this court, consists of certain original terms, later increased by an augmented offer of the defendants. By the terms of this amended settlement proposal, the defendants are to pay as follows: the sum of $1,000,000 in cash to Alleghany; rescind the exchange by Alleghany of 130,000 common voting shares of Investors Diversified, Inc.…