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FRY v. SCHUMAKER

Civ. No. 6418.

83 F.Supp. 476 (1947)

FRY et al. v. SCHUMAKER et al.

United States District Court E. D. Pennsylvania.

January 10, 1947.

Attorney(s) appearing for the Case

Morton P. Rome, Sundheim, Folz, Kamsler & Goodis, and M. Walton Sporkin, Jr., all of Philadelphia, Pa., for plaintiff.

C. Brewster Rhoads, Sidney L. Wickenhaver, J. Hector McNeal and Nathaniel Shapiro, all of Philadelphia, Pa., for defendants Loraine J. Schumaker, and others.

Richard V. Zug and G. Ruhland Rebmann, Jr., both of Philadelphia, Pa., for defendants Herbert H. Blizzard and others.

Louis Loss, of Washington, D. C., for Securities & Exchange Commission.

KIRKPATRICK, Chief Judge.

This complaint contains four counts. The first two are based on alleged violations of the Securities Exchange Act of 1934, 15 U.S.C.A. § 78a et seq., and Rules X-10B-3 and X-10B-5 of the Securities & Exchange Commission. They differ in that the relief requested in the first is for rescission while the second asks for damages. The third and fourth counts are based upon the common law of fraud and deceit and, as in the first two counts...

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