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MOSCARELLI v. STAMM

No. 67-C-520.

288 F.Supp. 453 (1968)

Ralph MOSCARELLI, Julia Moscarelli, Sylvia Chernofsky and Hyman Chernofsky, each individually and on behalf of all persons similarly situated purchasing securities registered on a National Securities Exchange during the years 1965 and 1966 through A. L. Stamm & Co., as Broker, Plaintiffs, v. Alfred L. STAMM, Everard M. C. Stamm, Harry Rosenbaum, Hines O. Metz, Philippe E. Baumann, Malcolm J. Babbin, R. Bruce Rexmann, Alexander Benisatto and Robert C. Stamm, each individually and as co-partners doing business under the firm name and style of A. L. Stamm & Co., Defendants.

United States District Court E. D. New York.

July 22, 1968.

Attorney(s) appearing for the Case

Jaffe, Cohen, Berman & Crystal, New York City, for plaintiffs, Ernest Allen Cohen, New York City, of counsel.

Bigham, Englar, Jones & Houston, New York City, for defendants, Alfred J. Morgan, Jr., Joseph A. Kilbourn, and Robert B. Budelman, Jr., New York City, of counsel.

BARTELS, District Judge.

This is an action by the plaintiffs individually and on behalf of others who purchased securities during 1965 and 1966 through the brokerage firm of A. L. Stamm & Co., to recover damages for losses resulting from numerous trades on a national securities exchange. Jurisdiction is predicated upon 15 U.S. C.A. §§ 77v and 78aa.

Defendants (partners of A. L. Stamm) move to dismiss the action as a class action pursuant to Rule...

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