Deutsch v. Flannery

883 F.2d 60 Fed. Sec. L. Rep. P 94,552 Samuel DEUTSCH, Plaintiff-Appellant, v. Robert G. FLANNERY, Robert C. Marquis; Richard W. Stumbo, Jr., Walter G. Treanor; John G. Bannister; Wayne T. Donnels, John G. McDonald; Justin M. Roach, Jr.; Joseph Rosenblatt; The Western Pacific Railroad Company; Union Pacific Corp., Defendants-Appellees. No. 88-2629. United States Court of Appeals, Ninth Circuit. Argued and Submitted April 13, 1989. Decided Aug. 21, 1989. Richard M. Meyer, Milberg, Weiss, Bershad, Specthrie & Lerach, New York City, for plaintiff-appellant. John F. Collins, Dewey, Ballantine, Bushby, Palmer & Wood, New York City, Kurt W. Melchior, Nossaman, Guthner, Knox & Elliott, San Francisco, Cal., T. Barry Kingham, Curtis, Mallet-Prevost, Colt & Mosle, New York City, for defendants-appellees. Appeal from the United States District Court for the Northern District of California. Before NORRIS, BEEZER and BRUNETTI, Circuit Judges. WILLIAM A. NORRIS, Circuit Judge: 1 In 1980 Union Pacific Corporation ("Union Pacific") and Western Pacific Railroad Company ("WesPac") entered into an Agreement of Merger which provided that Union Pacific, which already owned 10% of…