Reiser v. Del Monte Properties Company

605 F.2d 1135 Fed. Sec. L. Rep. P 97,250 CA 79-3697 Thomas F. REISER, and Inns-By-The-Sea, a California Corporation, Plaintiffs-Appellants, v. DEL MONTE PROPERTIES COMPANY, a California Corporation, et al., Defendants-Appellees. No. 77-2418. United States Court of Appeals, Ninth Circuit. Oct. 4, 1979. R. Stewart Baird, Jr., Bronson, Bronson & McKinnon, San Francisco, Cal., for plaintiffs-appellants. Thomas J. Mellon, Jr., Chickering & Gregory, San Francisco, Cal., for defendants-appellees. Appeal from the United States District Court for the Northern District of California. Before TUTTLE, ELY and WRIGHT, Circuit Judges. TUTTLE, * Senior Circuit Judge: 1 Plaintiffs, Thomas Reiser and Inns-By-The-Sea, 1 appeal from an order of the District Court for the Northern District of California dismissing their claim for attorneys' fees arising out of their action against Del Monte Properties Company and certain officers and directors of Del Monte. We reverse and remand for further proceedings. 2 In 1976, the defendants drew up a proposal involving a merger of Del Monte with a subsidiary company and reincorporation of the expanded company in Delaware. Reiser, an outside director of…