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ELKIND v. LIGGETT & MYERS, INC.

No. 73 Civ. 2837.

472 F.Supp. 123 (1978)

Arnold B. ELKIND, Plaintiff, v. LIGGETT & MYERS, INC., Defendant.

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

November 17, 1978.

Attorney(s) appearing for the Case

Kaplan, Kilsheimer & Foley by Robert N. Kaplan, Dale A. Schreiber, James B. Kilsheimer, III, Richard J. Kilsheimer, New York City, for plaintiff.

Webster & Sheffield by Donald J. Cohn, Paul A. Gangsei, Alan Gabbay, New York City, for defendant Liggett & Myers, Inc.

Findings of Fact and Conclusions of Law

MOTLEY, District Judge.

Plaintiff Arnold Elkind purchased 100 shares of Liggett & Myers, Inc. (Liggett) common stock on July 12, 1972 at $63 3/8 per share on the New York Stock Exchange. He sold these shares on December 27, 1972 at $38 1/8 . He brought this class action against Liggett alleging violations of Section 10(b) of the Securities Exchange Act of 1934 (Act) (15 U.S.C. § 78j) and Rule 10b-5...

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