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RUBINBERG v. HYDRONIC FABRICATIONS, INC.

No. CV-89-2583 (ADS).

775 F.Supp. 56 (1991)

Michael RUBINBERG, Francis Lee and Frank Coulton, Plaintiffs, v. HYDRONIC FABRICATIONS, INC., Irwin P. Mattes, Joseph Sacks and Morton E. Cytryn, Defendants.

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

October 1, 1991.

Attorney(s) appearing for the Case

Walker & Hill (Stephen R. Hill, of counsel), New York City, for plaintiffs.

David E. Worby, P.C. (Robert A. Korren, of counsel), White Plains, N.Y., for defendant Morton E. Cytryn.

Speno Goldman Goldberg Steingart & Penn, P.C. (Peter Sullivan, of counsel), Mineola, N.Y., for defendants Joseph Sacks and Irwin P. Mattes.

OPINION AND ORDER

SPATT, District Judge.

This action arises out of a dispute concerning the alleged omissions and misrepresentations made by the defendants in connection with the sale of all of the issued and outstanding shares of common stock of a close corporation, Hydronic Fabrications, Inc. Based on violations of the federal securities laws as well as pendent state law claims, the complaint alleges that the defendants failed to disclose the true financial...

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