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STATE TEACHERS RETIREMENT BD. v. FLUOR CORP.

No. 76 Civ. 2135 (RWS).

576 F.Supp. 1116 (1983)

STATE TEACHERS RETIREMENT BOARD, et al., Plaintiffs, v. FLUOR CORPORATION and Manufacturers Hanover Trust Co., Defendants.

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

December 12, 1983.

Attorney(s) appearing for the Case

Schwartz, Shapiro, Kelm & Warren, Columbus, Ohio, for plaintiffs by Russell A. Kelm, Columbus, Ohio, of counsel.

Cahill, Gordon & Reindel, New York City, for defendant Fluor Corp. by Raymond L. Falls, Charles A. Gilman, Joseph I. Loonan and Julie A. Petruzelli, New York City, of counsel.

Kelley, Drye & Warren, New York City, for defendant Manufacturers Hanover Trust Co. by Richard J. Concannon, Robert E. Crotty and Kevin J. Walsh, New York City, of counsel.

OPINION

SWEET, District Judge.

Once again this class action securities action brought by plaintiff State Teachers Retirement Board ("State Teachers") against defendants the Fluor Corporation ("Fluor"), certain of its officers and Manufacturers Hanover Trust Company ("Manufacturers") has succeeded in raising a difficult and vexing issue of securities law. This time it is the effect to be given Dirks v. SEC, ___ U.S. ___, 103 S.Ct. 3255, 77 L.Ed.2d...

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