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CREDIT & FINANCE CORP. v. WARNER & SWASEY CO.

No. 79 Civ. 4523.

486 F.Supp. 101 (1980)

CREDIT & FINANCE CORP. LTD.; Crescent Diversified Ltd.; Mike Felkay; Glenhaven Ltd.; Abraham Israeloff; Phyllis Israeloff; Clara E. Kellner; George A. Kellner; Carl B. Menges; Nat Miller Associates; Elizabeth B. Mott; Pimlico Associates; Polytechnic Organization Ltd.; Fred R. Nederlander; Elmer G. St. John, M. D.; Margaret W. St. John; Sogo Shosha Limited; Samuel M. Stayman and Alfred Rand, as Agents for Star Investors; Wendy Jesser Stowe; Robert Winthrop; Jerry Roland; and Donaldson, Lufkin & Jenrette, Inc., Plaintiffs, v. WARNER & SWASEY COMPANY; Ranco Incorporated; and Vorwerk & Co. (KG), Defendants.

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

February 25, 1980.

Attorney(s) appearing for the Case

Silverman & Harnes, New York City, for plaintiffs; Sidney B. Silverman, New York City, of counsel.

Simpson, Thacher & Bartlett, New York City, for defendant Ranco Inc.; Whitney North Seymour, Jr., John F. Cambria, New York City, of counsel.

Winthrop, Stimson, Putnam & Roberts, New York City, for defendant Vorwerk & Co.; Peter H. Kaminer, Sutton Keany, Robert J. Sussman, New York City, of counsel.

MEMORANDUM AND ORDER

WHITMAN KNAPP, District Judge.

This is an action for violations of the Securities and Exchange Act of 1934 ("1934 Act"). Plaintiffs are twenty corporations, associations and individuals who purchased on the New York Stock Exchange between July 12 and July 18, 1979 an aggregate of 52,100 shares of the common stock of Ranco, Inc. Defendants are Warner & Swasey Company, an Ohio corporation; Ranco, an Ohio corporation; and Vorwerk &...

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