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NIEDERHOFFER, CROSS & ZECKHAUSER, INC. v. TELSTAT SYSTEMS INC.

No. 76 Civ. 5500 (WCC).

436 F.Supp. 180 (1977)

NIEDERHOFFER, CROSS & ZECKHAUSER, INC., Plaintiff, v. TELSTAT SYSTEMS INC. and William Stern, Defendants.

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

July 27, 1977.

Attorney(s) appearing for the Case

Wolf, Haldenstein, Adler, Freeman & Herz, New York City, for plaintiff; John W. Herz, David A. Ruttenberg, Robert L. Davidson, New York City, of counsel.

Aranow, Brodsky, Bohlinger, Benetar & Einhorn, New York City, for defendants; Leonard Holland, George Berlstein, Terence L. Blackburn, New York City, of counsel.

CONNER, District Judge.

Plaintiff in the above-captioned action sues defendant Telstat Systems Inc., and its Executive Vice-President William Stern, for $500,000 in damages, allegedly the result of defendant's fraudulent activities in connection with plaintiff's "contract to purchase securities." Counts I and II of the complaint allege violations of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5 of the Securities and Exchange...

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