Speed v. Transamerica Corp., Civ. A. No. 480

Decision Date20 September 1951
Docket Number490.,468,Civ. A. No. 480
Citation100 F. Supp. 461
PartiesSPEED et al. v. TRANSAMERICA CORP. FRIEDMAN et al. v. TRANSAMERICA CORP. ZAHN v. TRANSAMERICA CORP.
CourtU.S. District Court — District of Delaware

Daniel O. Hastings, Ayres J. Stockly and Thomas R. Hunt (Hastings, Stockly, Walz & Wise), all of Wilmington, Del., Arthur Frank and Claude L. Gonnet (Frank & Gonnet), of New York City, for plaintiffs Speed and others.

Samuel J. Levinson, Frank Weinstein and Robert Bernstein, all of New York City, and Samuel Handloff, of Wilmington, Del., for plaintiffs Friedman and others.

Daniel O. Hastings, Ayres J. Stockly and Thomas R. Hunt (Hastings, Stockly, Walz & Wise), all of Wilmington, Del., Arthur Frank and Claude L. Gonnet (Frank & Gonnet), of New York City, for plaintiff Zahn.

Hugh M. Morris, Edwin D. Steel, Jr. and William S. Megonigal, Jr. (Morris, Steel, Nichols & Arsht), all of Wilmington, Del., for defendant.

Roger S. Foster, General Counsel, Milton P. Kroll, Asst. General Counsel, and Alexander Cohen, Attorney, all of Washington, D.C., for Securities and Exchange Commission for amici curiæ.

William H. Foulk and Herbert L. Cobin of Wilmington, Del., for interveners.

LEAHY, Chief Judge.

Argument was had on the proposed decrees for judgments of plaintiffs. I have studied the transcript of that argument and the briefs of the parties on the objections and the right of the interveners to become formal parties to these causes.

1. In the Speed case defendant raises what seems to me to be a highly technical point of procedure, i e., I should not give judgment for plaintiffs on count 1 because no order was ever entered vacating the early order granting summary judgment to defendant on this count. I think this objection is frivolous. The same facts which proved a case in plaintiffs' favor under counts 2, 3 and 4 are strong enough to sustain count 1. In any event, there can only be one recovery in this case and it matters little, therefore, if recovery is had on the latter counts, whether the technical point raised by defendant has merit. As stated, I do not think it has. I simply reaffirm what I had to say about count 1 in my opinion of August 8, 1951, 99 F.Supp. 808.

2. Much argument was devoted to the question whether these causes were class actions; and at the oral argument I suggested that this particular question should be among those reserved for the special master in addition to the question of the personal defenses which defendant might...

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6 cases
  • Tobacco and Allied Stocks v. Transamerica Corp.
    • United States
    • U.S. District Court — District of Delaware
    • June 18, 1956
    ...5 F.R.D. 115; Speed v. Transamerica Corp. (Friedman v. Transamerica Corp.; Zahn v. Transamerica Corp.), D.C., 99 F.Supp. 808; Id., D.C., 100 F.Supp. 461; Id., D.C., 100 F. Supp. 463; Id., D.C., 135 F.Supp. 176, 83 DX (T) No. 41A. 84 DX Edelstein No. 3. 85 Id., No. 3. 86 Id., Nos. 3, 4. 87 D......
  • Speed v. Transamerica Corp.
    • United States
    • U.S. District Court — District of Delaware
    • September 20, 1951
    ...New York City, and Samuel Handloff, of Wilmington, Del., for plaintiffs, Philip Zahn et al. Subsequent Opinion September 20, 1951. See 100 F.Supp. 461. LEAHY, Chief Judge. Speed v. Transamerica: CA 480. Plaintiffs' amended complaint seeks damages from Transamerica Corporation for alleged fr......
  • Union Carbide and Carbon Corporation v. Nisley, 6319-6322.
    • United States
    • U.S. Court of Appeals — Tenth Circuit
    • April 26, 1962
    ...331, 336; Nagler v. Admiral Corp., 2 Cir., 248 F.2d 319, 327; All American Airways v. Elderd, 2 Cir., 209 F.2d 247; Speed v. Transamerica Corp., D.C., 100 F.Supp. 461, 463; Tolliver v. Cudahy Packing Co., D.C., 39 F.Supp. 337, 339; Alabama Independent Service Station Ass'n v. Shell Petroleu......
  • Speed v. Transamerica Corporation
    • United States
    • U.S. Court of Appeals — Third Circuit
    • August 14, 1956
    ...295 Ky. 226, 173 S.W.2d 377, 148 A.L.R. 834. 5 Subsequently argument was had on the proposed decrees for judgments, Speed v. Transamerica, D.C.1951, 100 F.Supp. 461. Transamerica filed a motion seeking to reopen the case to take new evidence which was denied, Ibid, D.C.1951, 100 F.Supp. 463......
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5 provisions
  • Fed. R. Civ. P. 23 Class Actions
    • United States
    • US Code 2019 Edition Title 28 Appendix Federal Rules of Civil Procedure Rules of Civil Procedure For the United States District Courts [1] Title III. Pleadings Andmotions
    • January 1, 2019
    ...Denver Tramway Corp., 81 F.Supp. 957 (D.Del. 1949); Zahn v. Transamerica Corp., 162 F.2d 36 (3d Cir. 1947); Speed v. Transamerica Corp., 100 F.Supp. 461 (D.Del. 1951); Sobel v. Whittier Corp., 95 F.Supp. 643 (E.D.Mich. 1951), app. dism., 195 F.2d 361 (6th Cir. 1952); Goldberg v. Whittier Co......
  • Fed. R. Civ. P. 23 Class Actions
    • United States
    • US Code 2019 Edition Title 28 Appendix Federal Rules of Civil Procedure Rules of Civil Procedure For the United States District Courts [1] Title III. Pleadings Andmotions
    • January 1, 2019
    ...Denver Tramway Corp., 81 F.Supp. 957 (D.Del. 1949); Zahn v. Transamerica Corp., 162 F.2d 36 (3d Cir. 1947); Speed v. Transamerica Corp., 100 F.Supp. 461 (D.Del. 1951); Sobel v. Whittier Corp., 95 F.Supp. 643 (E.D.Mich. 1951), app. dism., 195 F.2d 361 (6th Cir. 1952); Goldberg v. Whittier Co......
  • 28 APPENDIX U.S.C. § 23 Class Actions
    • United States
    • US Code 2022 Edition Title 28 Appendix Federal Rules of Civil Procedure Rules of Civil Procedure For the United States District Courts
    • January 1, 2022
    ...Denver Tramway Corp., 81 F.Supp. 957 (D.Del. 1949); Zahn v. Transamerica Corp., 162 F.2d 36 (3d Cir. 1947); Speed v. Transamerica Corp., 100 F.Supp. 461 (D.Del. 1951); Sobel v. Whittier Corp., 95 F.Supp. 643 (E.D.Mich. 1951), app. dism., 195 F.2d 361 (6th Cir. 1952); Goldberg v. Whittier Co......
  • 28 APPENDIX U.S.C. § 23 Class Actions
    • United States
    • US Code 2020 Edition Title 28 Appendix Federal Rules of Civil Procedure Rules of Civil Procedure For the United States District Courts [1] Title IV. Parties
    • January 1, 2020
    ...Denver Tramway Corp., 81 F.Supp. 957 (D.Del. 1949); Zahn v. Transamerica Corp., 162 F.2d 36 (3d Cir. 1947); Speed v. Transamerica Corp., 100 F.Supp. 461 (D.Del. 1951); Sobel v. Whittier Corp., 95 F.Supp. 643 (E.D.Mich. 1951), app. dism., 195 F.2d 361 (6th Cir. 1952); Goldberg v. Whittier Co......
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