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TREIBER v. KATZ

No. 91-CV-70374-DT.

796 F.Supp. 1054 (1992)

Howard TREIBER, Paul S. Schulman, M.D., Ralph S. Jackson, John & Dianne Wisenbaker, Maynard King, Charles E. Morgan, A. George Ventro and Paul E. Bengston, Plaintiffs, v. Phyllis A. KATZ, Cigna Securities, Inc., ARP Timers I, Inc., American Residential Management, Inc., American Residential Properties, Inc., American Residential Securities, Inc., Defendants.

United States District Court, E.D. Michigan, S.D.

June 5, 1992.

Attorney(s) appearing for the Case

Beigel & Sandler, Ltd. by Ronald A. Schy, Herbert Beigel, Cary N. Goldberg, Chicago, Ill., for plaintiffs.

Barris, Sott, Denn & Driker by Eugene Driker, Andrew M. Zack, Detroit, Mich., Jenner & Block by J. Kevin McCall, Chicago, Ill., for defendant CIGNA Securities, Inc.

Bodman, Longley & Dahling by Robert M. Spence, Detroit, Mich., McManemin & Smith by J. Thomas Gilbert, Dallas, Tex., for defendants American Residential Management, Inc., American Residential Properties, Inc., American Residential Securities, Inc., ARP Timbers I, Inc.

Stephen H. Hartman, Dept. of Justice, Civil Div., Washington, D.C., for Dept. of Justice.

James R. Doty, General Counsel, Securities and Exchange Com'n, Washington, D.C., for Securities and Exchange Com'n.

OPINION

GILMORE, District Judge.

Before the Court is Plaintiffs' Motion to Reinstate Section 10(b) claims dismissed by Order of this Court on September 25, 1991. At issue is the constitutionality of § 476 of the Federal Deposit Insurance Corporation Improvement Act, Pub.L. No. 102-242, 105 Stat. 2387 (1991).1 The Court finds that § 476, which adds § 27A to the Securities and Exchange Act of 1934, is unconstitutional...

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