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B & B INVESTMENT CLUB v. KLEINERT'S, INC.

Civ. A. Nos. 73-642, 73-2789.

391 F.Supp. 720 (1975)

B & B INVESTMENT CLUB et al., Plaintiffs, v. KLEINERT'S, INC., et al., Defendants, v. Peter H. SPENCER, Third-Party Defendant. Sidney D. CHAIRMAN et al., Plaintiffs, v. KLEINERT'S, INC., et al., Defendants.

United States District Court, E. D. Pennsylvania, Civil Division.

March 6, 1975.

Attorney(s) appearing for the Case

Allen D. Black, Harold E. Kohn, Philadelphia, Pa., for plaintiffs in 73-642.

Cletus P. Lyman, Philadelphia, Pa., for plaintiffs in 73-2789.

Franklin Poul, and Judith R. Cohn, Philadelphia, Pa., for defendants, Kleinert's, Inc., Jack Brier, Bernard Borish, John Coppens, Sr., William Gerstley, II, Sol Kittay, Michael Lichtenstein, Sol T. Scheinman & Edward L. Kromer.

Donald A. Scott, Philadelphia, Pa., for A. Anderson & Co.

Edwin P. Rome, Philadelphia, Pa., for Drexel Burnham & Co.

Thomas N. O'Neill, Jr., Philadelphia, Pa., for Paneth Haber & Zimmerman.

Francis P. Devine, III, Philadelphia, Pa., for P. Spencer.

E. F. Waye, Philadelphia, Pa., for Stephens and Brubaker.

MEMORANDUM AND ORDER

CAHN, District Judge.

Both of these cases involve alleged violations of sections 12(2) and 17(a) of the "Securities Act of 1933," 15 U.S.C. § 77l(2) and § 77q(a); sections 10(b) and 20(a) of the "Securities Exchange Act of 1934", 15 U.S.C. § 78j(b) and § 78t(a); and Rule 10b-5, 17 C.F.R. 240.10b-5, adopted by the Securities and Exchange Commission under authority of sections 10(b) and 23(a) of the Exchange...

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