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FLUM PARTNERS v. CHILD WORLD INC.

No. 81 Civ. 2416.

557 F.Supp. 492 (1983)

FLUM PARTNERS, Plaintiff, v. CHILD WORLD INC., Cole National Corp., CHF Corp. and New CHF Corp., Defendants.

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

February 23, 1983.

Attorney(s) appearing for the Case

Meltzer, Lippe & Goldstein, Mineola, N.Y., for plaintiff; Richard A. Lippe, William D. Denson, Mineola, N.Y., of counsel.

Jones, Day, Reavis & Pogue, Cleveland, Ohio, Willkie, Farr & Gallagher, New York City, for defendants; Barry L. Springel, Cleveland, Ohio, James J. Calder, New York City, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiff, Flum Partners, is an investment partnership whose managing and sole general partner, Jerome S. Flum ("Flum"), is an attorney who gave up the practice of law in 1968 to enter the investment market and has acted since as a self-described "sophisticated financial analyst." In a two-day period, June 24-26, 1980, he purchased for plaintiff 101,200 shares of Child World, Inc. ("Child World"), a publicly traded...

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