(DOWNLOAD) "Ellis v. Flying Tiger Corp." by United States Court of Appeals for the Seventh Circuit " Book PDF Kindle ePub Free
eBook details
- Title: Ellis v. Flying Tiger Corp.
- Author : United States Court of Appeals for the Seventh Circuit
- Release Date : January 27, 1972
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
The issue presented is whether the trial court abused its discretion in awarding $600,000 in attorneys' fees in approving the settlement of a class action. This action was begun on December 18, 1970, when the plaintiffs, common shareholders of North American Car Corporation, filed a complaint seeking to enjoin a merger between North American and the Flying Tiger Corporation on grounds that a proxy statement contained false and misleading statements. The trial judge granted plaintiffs' motion for a preliminary injunction on December 21, 1970, but reversed himself the next day. Plaintiffs' motion for emergency consideration of their appeal of the denial of the preliminary injunction was summarily denied by this court on January 6, 1971, and plaintiffs thereafter moved to dismiss the appeal. The stockholders of North American approved the merger which became effective on January 7, 1971. Notice of the proceedings in the district court was sent to former North American shareholders pursuant to order of the district court.