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COLSON v. BERTSCH

Civ. A. No. 82-3640.

586 F.Supp. 1289 (1984)

Andrew COLSON and Huston Lumber & Supply Co., Inc., Plaintiffs, v. Lyle E. BERTSCH, Defendant. Lyle E. BERTSCH, Counterclaim Plaintiff, v. Andrew COLSON, Counterclaim Defendant, and Major Pool Equipment Corp., et al., Additional Defendants on Counterclaims.

United States District Court, D. New Jersey.

As Amended May 9, 1984.

Attorney(s) appearing for the Case

Hehl, Romankow, Taub & Wilde, Stephen F. Hehl, Union, N.J., for plaintiffs.

Shea & Gould, Martin Samson, New York City, Pitney, Hardin, Kipp & Szuch, Frederick L. Whitmer, Morristown, N.J., for defendant, counterclaim plaintiff.

Lowenstein, Sandler, Brochin, Kohl, Fisher, Boylan & Meanor, Marion Percell, Roseland, N.J., for counterclaim-defendants Magid, Ketover, Cohen, Swett, Spitz, Maggion and Semiraro.

Pollner, Mezan & Stolzberg, William M. Pinzler, New York City, for additional defendant on counterclaim Mendolsohn Karey Bell & Natoli.

OPINION

SAROKIN, District Judge.

This case again presents for the court's consideration the extremely difficult legal problem of defining the term "security" for purposes of the securities acts. In deciding this issue the court must attempt to ascertain the intention of Congress, although the world which Congress saw when it drafted these Acts is far different from the world today. The use of the corporate entity in the business world has become commonplace...

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