[Download] "Weinberger v. Kendrick" by United States Court of Appeals for the Second Circuit ~ eBook PDF Kindle ePub Free

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eBook details

• Title: Weinberger v. Kendrick
• Author : United States Court of Appeals for the Second Circuit
• Release Date : January 26, 1983
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 58 KB

Description

On September 10, 1982, we entered an unpublished order on petitions for rehearing and suggestions for rehearing in banc filed by both sets of appellants with respect to our opinion of July 14, 1982, slip opinions at 3923, in which we affirmed an order of Judge Duffy, in the District Court for the Southern District of New York, approving the settlement of class actions brought by purchasers of W. T. Grant Co. securities alleging violations of federal and state securities law. We corrected a factual statement, slip opinions at 3931, full paragraph, last sentence, in a manner stated therein. Beyond that we noted the contention made on behalf of the Coyne appellants that by affirming Judge Duffys order approving the settlement despite his failure to render more than a cursory opinion, we had placed ourselves in conflict with In re General Motors Corp. Engine Interchange Litigation, 594 F.2d 1106 (7 Cir.), cert. denied sub nom. Oswald v. General Motors Corp., 444 U.S. 870, 62 L. Ed. 2d 95, 100 S. Ct. 146 (1979), and Girsh v. Jepson, 521 F.2d 153 (3 Cir. 1975), and indeed had ignored the command of Protective Committee for Independent Stockholders of TMT Trailer Ferry, Inc. v. Anderson, 390 U.S. 414, 20 L. Ed. 2d 1, 88 S. Ct. 1157 (1968). We stated that we had no intention of doing anything of the sort but rather had regarded this as a unique situation where, because of the careful and well-reasoned opinions of Bankruptcy Judge Galgay on closely related issues arising in the bankruptcy liquidation of Grant, the district judge could properly have considered himself relieved of what would otherwise have been his obligation to make a detailed assessment of the settlement. See slip opinions at 3947-48. However, because the point had not been adequately brought to our attention, we had not sufficiently focused on the fact that Judge Galgays findings and conclusions were being seriously attacked in an appeal in the Grant bankruptcy proceedings that would shortly reach this court. We therefore directed that argument on the appeal from the order of Judge Duffy affirming Bankruptcy Judge Galgays order in the Grant bankruptcy proceedings (hereinafter the Cosoff and Miller appeals) be heard before this same panel and ordered that issuance of the mandate in this case be stayed pending further order of this court.

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