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P. J. TAGGARES CO. v. NEW YORK MERCANTILE EXCH.

No. 78 Civ. 4388.

476 F.Supp. 72 (1979)

P. J. TAGGARES COMPANY, INC. and Simtag Farms, Plaintiffs, v. NEW YORK MERCANTILE EXCHANGE, Defendant.

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

July 16, 1979.

Attorney(s) appearing for the Case

Curtis, Mallet-Prevost, Colt & Mosle, New York City, for plaintiffs; Peter Fleming, Jr., Herbert Stoller, Samuel F. Abernethy, Frank Maas, New York City, of counsel.

Rein, Mound & Cotton, New York City, Cahill, Gordon & Reindel, New York City, for defendant; Maurice, Mound, William E. Hegarty, Charles Platto, Ruth D. MacNaughton, New York City, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiffs trade in potato futures contracts through brokers who are clearing members of the New York Mercantile Exchange ("Exchange"). They commenced this action against the Exchange to recover damages they allegedly sustained as a result of the January 1977 action of its President in increasing the margin requirements of clearing members for the May 1977 Maine Potato Futures Contract from $500 to $5,000 per contract...

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