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F. O. F. PROPRIETARY FUNDS, LTD. v. ARTHUR YOUNG & CO.

No. 73 Civ. 3262.

400 F.Supp. 1219 (1975)

F. O. F. PROPRIETARY FUNDS, LTD., Plaintiff, v. ARTHUR YOUNG & COMPANY et al., Defendants.

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

September 24, 1975.

Attorney(s) appearing for the Case

Poletti Freidin Prashker Feldman & Gartner, New York City, for plaintiff F. O. F. Proprietary Funds, Inc.; Justin N. Feldman, George J. Solomon, Barbara A. Lee, New York City, of counsel.

White & Case, New York City, for defendant Arthur Young & Co.; P. B. Konrad Knake, Vincent R. Fitzpatrick, Jr., E. Miles Prentice, III, New York City, of counsel.

Debevoise, Plimpton, Lyons & Gates, New York City, for defendant, Drexel Burnham & Co., Inc.; Robert B. Von Mehren, J. Asa Rountree, John Patrick Collins, New York City, of counsel.

Cahill Gordon & Reindel, New York City, for defendant Loeb, Rhoades & Co.; David R. Hyde, New York City, of counsel.

Skadden, Arps, Slate, Meagher & Flom, New York City, for defendant C. Grandison Hoyt; Leslie H. Arps, Josephine Lea Iselin, New York City, of counsel.

OPINION

BONSAL, District Judge.

Pursuant to the Court's directions on May 5, 1975, the parties have briefed their positions on the issue of the Court's subject-matter jurisdiction over this case, which has been brought under the Securities Act of 1933, 15 U.S.C. § 77v, and the Securities Exchange Act of 1934, 15 U.S.C. § 78aa.

Plaintiffs, originally F. O. F. Proprietary Funds, Ltd. ("FOF Prop.") and John W. Davidge, Jr., as Trustee in Reorganization...

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