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PICARD v. WALL ST. DISCOUNT CORP.

No. 80 Civ. 7307.

526 F.Supp. 1248 (1981)

Daniel A. PICARD, suing on his own behalf and derivatively on behalf of Accipiter Ltd., doing business as Accipiter, Inc., Plaintiff, v. WALL STREET DISCOUNT CORPORATION, Ernst & Co., Alan Lederfeind, Fred A. Shorsher, H. Clinton Pollack, Jr., Timothy P. Costello, Carolyn Torregrossa, Warren O'Toole, Bernard R. Sperling, Robert M. Arias, Gregory M. Fitzgerald, Bernard C. Mergentime, Alexander Wohlgemuth, Gery W. Sperling, Lionel C. Bandler, Arnold S. Barysh, Edgar W. Kann, William P. Behrens, Anthony M. Marmora, Ronald C. Luks, and Accipiter Ltd., doing business as Accipiter, Inc., Defendants.

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

December 1, 1981.

Attorney(s) appearing for the Case

Fried, Frank, Harris, Shriver & Jacobson, New York City, for plaintiff; William Josephson, of counsel.

Gainsburg, Gottlieb, Levitan & Cole, New York City, for defendant Ernst & Co.; Michael H. DuBoff, of counsel.

Hoffman, Pollok & Gasthalter, New York City, for Wall Street Discount Corp.; Edward Gasthalter, of counsel.

SOFAER, District Judge:

Defendants have moved to dismiss, alleging (1) that plaintiff Picard has failed to state a claim upon which relief may be granted; (2) that plaintiff has failed to join an indispensable party; and (3) that the Court lacks subject matter jurisdiction. For the following reasons, defendants' motion concerning subject matter jurisdiction is meritorious in part, and the federal claims asserted in the complaint must be dismissed. Defendants' other...

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