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MILNARIK v. M-S COMMODITIES, INC.

No. 70 C 1338.

320 F.Supp. 1149 (1970)

Ella MILNARIK, Emily Milnarik, Florence Milnarik, Bruce Turnmire, Jean Milnarik, Ronald Milnarik, Marshall W. Milnarik, Plaintiffs, v. M-S COMMODITIES, INC., and David S. Nelson, Defendants.

United States District Court, N. D. Illinois, E. D.

October 26, 1970.

Attorney(s) appearing for the Case

Moses, McGarr, Gibbons, Abramson & Fox, Chicago, Ill., for plaintiffs.

Arthur M. Mintz, of Mintz, Raskin & Louis, Chicago, Ill., Richard B. Michaels, Chicago, Ill., for defendants.

MEMORANDUM OPINION

WILL, District Judge.

This action presents the apparently novel question of whether or not a discretionary trading account in commodity futures is subject to the registration requirements of Section 5 of the Securities Act of 1933, 15 U.S.C. § 77e. For the reasons stated below, we conclude that it is not and grant defendants' motions to dismiss plaintiffs' complaint for failure to state a claim upon which relief can be granted.

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