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RICE v. McDONNELL & CO., INC.

No. 74 Civ. 3541 (HFW).

442 F.Supp. 952 (1977)

Joseph L. RICE, III, Plaintiff, v. McDONNELL & CO., INC., T. Murray McDonnell, Morgan McDonnell, Frances T. McKay, as Executrix of the Estate of Thomas A. McKay, John F. Bohmfalk, Jr., Frank V. Deegan, Ronald H. Hoenig, Edward F. Becker, John J. Dellassandro, II, Hubert McDonnell, Jr., William J. Corbett, Raymond J. Doyle, Jr., and Bruce M. Stargatt, as Receiver of McDonnell & Co., Inc., Defendants.

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

September 26, 1977.

Attorney(s) appearing for the Case

Nickerson, Kramer, Lowenstein, Nessen, Kamin & Soll, New York City by Gregory Jones, New York City, of counsel, for plaintiff.

Proskauer, Rose, Goetz & Mendelsohn, New York City by Michael A. Cardozo, Steven J. Stein, New York City, of counsel, for defendant McDonnell & Co., Inc.

Lunney & Crocco, New York City by Charles A. Crocco, Jr., J. Robert Lunney, New York City, of counsel, for T. Murray McDonnell.

OPINION

WERKER, District Judge.

This is a motion by defendant McDonnell and Co., Inc. (hereinafter "the Company") to dismiss the cross-claim of T. Murray McDonnell (hereinafter "McDonnell") or in the alternative for judgment on the pleadings upon the ground that the cross-claim fails to state a claim upon which relief may be granted. The Company, which was formerly a broker-dealer, has since entered into receivership. The complaint alleges various violations...

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