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DERDIARIAN v. FUTTERMAN CORPORATION

223 F.Supp. 265 (1963)

Ara DERDIARIAN, on behalf of himself and all other persons similarly situated, Plaintiff, v. The FUTTERMAN CORPORATION et al., Defendants.

United States District Court S. D. New York.

November 6, 1963.

Attorney(s) appearing for the Case

Herman Odell, New York City, for plaintiff.

Robinson, Silverman, Pearce & Aronsohn, New York City, Leonard B. Sand, New York City, of counsel, for The Futterman Corporation.

Freedman, Levy, Kroll & Simonds, Washington, D. C., Milton Kroll, Washington, D. C., of counsel, for Kurt H. Grunebaum and New York Hanseatic Corporation.

Halpert & Burger, New York City, Israel Halpert, New York City, of counsel, for Aaron M. Schreiber and Samuel Futterman as Executors of Estate of Robert A. Futterman.

Bondy & Schloss, New York City, David Nierenberg, New York City, of counsel, for Leonard L. Steiner.

David H. Shapiro, New York City, for Richard K. McIntyre.

FEINBERG, District Judge.

Does an action for damages under the federal securities acts survive the death of the alleged wrongdoer? This is the chief issue raised by the motion before the Court. The action is brought under Section 17(a) of the Securities Act of 1933 ("Securities Act"), 15 U.S.C. § 77q(a), and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act"), 15 U.S.C. § 78j(b), and Rule 10b-5 thereto, against a corporation, a number of...

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