Mollie G. Pin v. Texaco, Inc. v. Jamey Holstein, Movant-Appellant
Court of Appeals for the Fifth Circuit
1Opinion of the Court
RANDALL, Circuit Judge:
Jamey Holstein appeals from an order of the United States District Court for the Northern District of Texas denying his motion to intervene pursuant to Fed.R.Civ.P. 24. We affirm.
I
This lawsuit arises out of a stock transaction that has come to be known as “greenmail.” In short, Holstein alleges that a group of individuals and entities headed by Bass Brothers Enterprises, Inc. (“Bass group”) bought a large number of shares in Texaco, Inc., on the open market. When the Bass group had accumulated a substantial block of shares — about 9.9% of the outstanding total — it…
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