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MORGAN, OLMSTEAD, KENNEDY & GARDNER, INC. v. SCHIPA

No. 82 Civ. 8067 (WCC).

585 F.Supp. 245 (1984)

MORGAN, OLMSTEAD, KENNEDY & GARDNER INCORPORATED, Moseley, Hallgarten, Estabrook & Weedon Inc., and Securities Settlement Corporation, Plaintiffs, v. Victor SCHIPA (a/k/a Vittorio Schipa), Girard Wilde & Co., Inc., and Carlisle Institutional Services, Inc., Defendants.

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

April 13, 1984.

Attorney(s) appearing for the Case

Kramer, Levin, Nessen, Kamin & Frankel, New York City, for plaintiff Morgan, Olmstead, Kennedy & Gardner, Inc.; Gary P. Naftalis, New York City, of counsel.

Shearman & Sterling, New York City, for plaintiff Moseley, Hallgarten, Estabrook & Weedon Inc.; John Klug, New York City, of counsel.

Gaston, Snow, Beekman & Bogue, New York City, for plaintiff Securities Settlement Corp.; Alice F. Chen, New York City, of counsel.

LaRossa, Axenfeld & Mitchell, New York City, for defendants; Thomas S. Finnegan, Brooklyn, N.Y., of counsel.

OPINION AND ORDER

CONNER, District Judge:

Plaintiffs Morgan, Olmstead, Kennedy & Gardner, Incorporated ("Morgan Olmstead"), Moseley, Hallgarten, Estabrook & Weedon, Inc. ("Moseley"), and Securities Settlement Corporation ("SSC") commenced the instant action seeking to recover losses of approximately $4,100,650 which they allege they suffered as a consequence of defendants' fraudulent conduct. They assert a claim under § 10(b) of the Securities...

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