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VALUE LINE FUND v. MARCUS

161 F.Supp. 533 (1958)

The VALUE LINE FUND, Inc., The Value Line Income Fund, Inc., and The Value Line Special Situations Fund, Inc., Plaintiffs, v. Hyman MARCUS and Van Alstyne, Noel & Co., a Copartnership, composed of David Van Alstyne, Jr., John E. Arrowsmith, Harold K. Young, F. Donald Arrowsmith, James A. Russell, William H. McElnea, Jr., General Partners, and Hyman Marcus, Limited Partner, Defendants.

United States District Court S. D. New York.

January 8, 1958.

Attorney(s) appearing for the Case

Ehrich, Stock, Valicenti, Leighton & Holland, New York City, for plaintiffs, Albert D. Jordan, New York City, of counsel (Joel Field, New York City, on the brief).

Cahill, Gordon, Reindel & Ohl, New York City, for defendant Hyman Marcus, Thomas C. Mason, Thomas W. Hill, Jr., New York City, of counsel.

HERLANDS, District Judge.

Plaintiffs seek rescission, restitution and damages under common law and under the Securities Act of 1933 [15 U.S. C.A. section 77a et seq.], with respect to a $3,247,000 purchase by plaintiffs of 191,000 shares of the common stock of United States Hoffman Machinery Corporation (called "Hoffman" herein) from the defendant Marcus, through the defendant Van Alstyne, Noel & Co. The sale was negotiated...

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