Legal Opinion
In Re Penn Central Securities Litigation
United States Judicial Panel on Multidistrict Litigation
Decided January 25, 1971No. 56PublishedCited by 25 opinions
1Opinion of the Court
OPINION AND ORDER
2Per curiam
The financial difficulties of the Penn Central Transportation Company, now the subject of a Section 77 Reorganization proceeding before Judge John P. Fullam in the Eastern District of Pennsylvania, have generated numerous lawsuits by dissatisfied stockholders and bondholders of the related Penn Central companies. Most of these actions are brought by stockholders of the Penn Central Co., holding company for the stock of Penn Central Transportation Co. 1 The plaintiffs allege various violations of common law duties and the federal securities laws by the Penn Central companies,…
3Cases cited4 opinions
- Schneider v. SearsDistrict Court, S.D. New York · 1967
- Securities & Exchange Commission v. American Trailer Rentals Co.Supreme Court of the United States · 1965
- In Re Multidistrict Civil Antitrust Actions Involving Antibiotic DrugsUnited States Judicial Panel on Multidistrict Litigation · 1970
- In Re Westec CorporationUnited States Judicial Panel on Multidistrict Litigation · 1969
4Cited by25 opinions
- Rosen v. DickCourt of Appeals for the Second Circuit · 1980
- In Re Equity Funding Corp. of America Securities LitigationUnited States Judicial Panel on Multidistrict Litigation · 1974
- Robinson v. Penn Central Co.Court of Appeals for the Third Circuit · 1973
- In Re Four Seasons Securities Laws LitigationUnited States Judicial Panel on Multidistrict Litigation · 1971
- Dorfman v. First Boston Corp.District Court, E.D. Pennsylvania · 1976
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