Fed. Sec. L. Rep. P 98,191 General Acquisition, Inc. v. Gencorp, Inc., Shearson Lehman Brothers, Inc., Wagner & Brown

ENGEL, Senior Circuit Judge.

This case involves General Acquisition, Inc.’s attempted hostile takeover of Appellant GenCorp, Inc., in March, 1987. Having successfully resisted General Acquisition’s overture, GenCorp’s directors now seek to hold Appellee Shearson Lehman Brothers, Inc., liable for allegedly disclosing confidential information in conjunction with the takeover bid. 1 Although GenCorp has not yet established any wrongdoing on Shearson’s part, we are asked at this early stage in the proceedings to review a district court order affecting the amount of damages GenCorp might possibly…