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BECKERMAN v. SANDS

No. 72 Civ. 3188.

364 F.Supp. 1197 (1973)

Ethel BECKERMAN and Abraham Beckerman, on behalf of themselves and all other participants in Times Square Associates, a New York trust, similarly situated and in the right of Times Square Associates, Plaintiffs, v. Ira J. SANDS et al., Defendants.

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

October 11, 1973.

Attorney(s) appearing for the Case

Schwartz, Kaufman & Sklaver, New York City, for plaintiffs; Harvey M. Sklaver, New York City, of counsel.

Botein, Hays, Sklar & Herzberg, New York City, for defendants; Alvin H. Schulman, Richard Cashman, New York City, of counsel.

MEMORANDUM

LASKER, District Judge.

Ethel and Abraham Beckerman ("the Beckermans"), two participants in a real estate syndicate, Times Square Associates ("Associates"), bring this diversity action directly on behalf of themselves and all other participants and derivatively on behalf of Associates. They allege breach of trust by defendant, Sands, and diversion of Associates' funds by him to defendant, F. S. Management Corp.

Defendants move to dismiss...

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