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JOHNSON & STALEY, INC. v. BUSHAN & LEVY, P. C.

No. 81 Civ. 4544.

527 F.Supp. 1159 (1981)

JOHNSON & STALEY, INC., Plaintiff, v. BUSHAN & LEVY, P. C., Mortimer H. Chute, Sr., Mortimer H. Chute, Jr., individually on his own behalf, and Mortimer H. Chute, Jr., as custodian for Elizabeth Chute, Catherine Chute, Margaret Chute, and Dorothy Chute, under the New York Uniform Gifts to Minors Act, Ivan N. Olsen, William J. Schroeder, Dorothea B. Chute, Walter G. Schroeder and Elvin Kimble, Defendants.

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

December 18, 1981.

Attorney(s) appearing for the Case

Gerstein, Queler & Churchill, New York City, for plaintiff; Robert S. Churchill, New York City, of counsel.

D'Amato & Lynch, New York City, for defendant Bushan & Levy, P. C.; Andrew R. Simmonds, New York City, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

This action arises out of the purchase of all the stock of Bainbridge, Kimpton & Haupt, Inc. ("Bainbridge") by the plaintiff in December, 1978. Plaintiff alleges that, in connection with the sale, defendants violated section 17 of the Securities Act of 1933 and section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, and that they also committed various common law violations. Defendant Bushan &...

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