Court of Appeals for the Second Circuit March 15, 1979, No. 136, Docket 78-7241 (Maldonado v. Flynn)

MANSFIELD, Circuit Judge:

In this stockholders’ derivative suit on behalf of Zapata Corporation (“Zapata” or “the Corporation”), a Delaware corporation, against a group of its past and present directors, the complaint alleges that the defendants violated various provisions of the Securities and Exchange Act of 1934, 15 U.S.C. §§ 78a, et seq.