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BRANHAM v. MATERIAL SYSTEMS CORPORATION

No. 71-1640-Civ.

354 F.Supp. 1048 (1973)

Thomas BRANHAM, Plaintiff, v. MATERIAL SYSTEMS CORPORATION and Alan R. Novak, Defendants, and Third-Party Plaintiffs, v. Robert O. FIGUEREDO and Insco, S. A., Third-Party Defendants.

United States District Court, S. D. Florida, Miami Division.

January 31, 1973.

Attorney(s) appearing for the Case

Fleming, O'Bryan & Fleming, Fort Lauderdale, Fla. (John S. Neely, Jr., Fort Lauderdale, Fla., of counsel), for plaintiff.

Cassel & Benjamin, Miami, Fla. (Julian R. Benjamin, Miami, Fla., of counsel) and Stroock & Stroock & Lavan, New York City (Gary J. Greenberg, New York City, of counsel), for defendants and third-party plaintiffs.

Vandroff & Mandell, Miami, Fla. (Richard J. Mandell, Miami, Fla., of counsel), for third-party defendants.

MEMORANDUM OF FINDINGS OF FACT AND CONCLUSIONS OF LAW AND ORDER

JAMES LAWRENCE KING, District Judge.

By his complaint, plaintiff Thomas Branham charges defendants Material Systems Corporation ("MSC") and the chairman of its board of directors, Alan R. Novak, with fraud in violation of Section 17(a) of the Securities Act of 1933, 15 U.S.C. § 77q(a), Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated...

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