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NORSUL OIL AND MINING, LTD. v. TEXACO INC.

No. 69 Civ. 5562.

309 F.Supp. 1242 (1970)

NORSUL OIL AND MINING, LTD. and Petromin, S.A., Plaintiffs, v. TEXACO INC. and Gulf Oil Corporation, Defendants.

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

March 3, 1970.

Attorney(s) appearing for the Case

Parr, Doherty, Polk & Sargent, New York City, for plaintiffs; by James C. Sargent, and Jack I. Samet, New York City, of counsel.

Amzy B. Steed, William C. Weitzel, Jr., Wm. Tousley Smith, and Kaye, Scholer, Fierman, Hays & Handler, New York City, for defendant Texaco Inc.; by Milton Handler, New York City, of counsel.

Frederick L. Scofield, Malcolm C. Pfautz, New York City, for defendant Gulf Oil Corporation.

OPINION

POLLACK, District Judge.

The defendants seek a dismissal of the First and Second Claims of the complaint pursuant to Rule 12(b) (6) of the Federal Rules of Civil Procedure on the ground that they fail to state a claim upon which relief can be granted.

These counts purport to state claims under Section 10(b) of the Securities Exchange Act, 15 U.S.C. § 78j(b), and Securities Exchange Commission Rule 10b-5, 17 C.F.R. § 240.106-5.<...

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