Legal Opinion
In Re the Pittsburgh & Lake Erie RR Co. Securities & Antitrust Litigation
District Court, E.D. Pennsylvania
Decided December 6, 1974No. M.D.L. 134PublishedCited by 2 opinions
1Opinion of the Court
MEMORANDUM
GORBEY, District Judge.
Certain defendants have filed a motion for pretrial determination limiting recovery in this action to prorata recovery by certain shareholders and for other relief, and other defendants have joined in this motion. The defendants assign as a reason for the motion that if the plaintiffs prevail in these actions and recovery is allowed to go to P&LE, on whose behalf the claims have been derivatively asserted, the principal beneficiary of such recovery would be the Penn Central, the owner of approximately 93% of the outstanding stock of P&LE, and which has already…
2Cases cited13 opinions
- Zenith Radio Corp. v. Hazeltine Research, Inc.Supreme Court of the United States · 1969
- Mills v. Electric Auto-Lite Co.Supreme Court of the United States · 1970
- Perma Life Mufflers, Inc. v. International Parts Corp.Supreme Court of the United States · 1968
- Kiefer-Stewart Co. v. Joseph E. Seagram & Sons, Inc.Supreme Court of the United States · 1951
- Simpson v. Union Oil Co. of Cal.Supreme Court of the United States · 1964
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3Cited by2 opinions
- Fed. Sec. L. Rep. P 95,807 in Re the Pittsburgh and Lake Erie Railroad Company Securities and Antitrust Litigation, Appeal of Objector Irving Trust Company, as TrusteeCourt of Appeals for the Third Circuit · 1976
- In Re Pittsburgh & Lake Erie RailroadCourt of Appeals for the Third Circuit · 1976