Reiter v. Universal Marion Corporation

HOLTZOFF, District Judge.

This is a motion by the defendants in a derivative stockholders’ action for a stay of proceedings until the disposition of a similar suit brought by other stockholders of the same corporation and pending in the Supreme Court of the State of New York, New York County. This action is brought by minority stockholders of the Universal Marion Corpora tion in behalf of the corporation, for the purpose of redressing certain wrongs alleged to have been committed by the individual defendants against the defendant corporation.

This action was filed on October 11, 1957.…