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BIRNBAUM v. NEWPORT STEEL CORP.

98 F.Supp. 506 (1951)

BIRNBAUM et al. v. NEWPORT STEEL CORP. et al.

United States District Court, S. D. New York.

May 11, 1951.

Attorney(s) appearing for the Case

Nathan B. Kogan, New York City (Irving Constant, New York City, of counsel), for plaintiff.

Cahill, Gordon, Zachry & Reindel, New York City (Fred J. Knauer and Frederick P. Warne, New York City, of counsel), for defendant Newport Steel Corp.

Milbank, Tweed, Hope & Hadley, New York City (A. Donald MacKinnon and Eugene H. Nickerson, New York City, of counsel), for defendant Wilport Co.

Sullivan & Cromwell, New York City (Arthur H. Dean, Howard T. Milman and H. Bartow Farr, Jr., all of New York City, of counsel), for defendant C. Russell Feldmann.

SAMUEL H. KAUFMAN, District Judge.

This is a motion, pursuant to Rule 12(b) (6) of the Federal Rules of Civil Procedure, 28 U.S.C.A., to dismiss a complaint for failure to state a claim upon which relief can be granted. The complaint alleges a violation of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C.A., § 78j (b)1 and of the rule promulgated thereunder, Rule X-10B-5 of the Securities and Exchange Commission, 17 Code...

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