Fed. Sec. L. Rep. P 95,029 Ruth Elizabeth McCormick Tankersley v. Joseph M. P. Albright and Josephine P. Albright

SWYGERT, Circuit Judge.

The subject of this appeal is a voting trust originally created under Illinois law and having significant contacts with the State of Delaware. The questions include whether the trust still legally exists, whether the trustees, by taking certain proposed actions, have violated their fiduciary responsibilities, and whether there was compliance with certain registration requirements of the Securities Exchange Act of 1934.

Plaintiffs are trustees of the McCormick-Patterson Trust, a voting trust which has as its corpus fifty-three percent of the outstanding common stock of…