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MILLER TABAK HIRSCH & CO. v. PENN TRAFFIC CO.

Civ. A. No. 86-1369.

643 F.Supp. 1297 (1986)

MILLER TABAK HIRSCH & CO. and Cede & Co., Plaintiffs, v. The PENN TRAFFIC COMPANY, Defendant.

United States District Court, W.D. Pennsylvania.

August 22, 1986.

Attorney(s) appearing for the Case

David Borkovic, Kirkpatrick & Lockhart, Pittsburgh, Pa., Sanford M. Litvak, Donovan, Leisure, Newton & Irvine, New York City, for plaintiffs.

Edward G. O'Connor, Eckert, Seamans, Cherin & Mellott, Pittsburgh, Pa., Samuel Kadet, Skadden, Arps, Slate, Meagher & Flom, New York City, for defendant.

OPINION

DIAMOND, District Judge.

The plaintiffs in this action, Miller Tabak Hirsch & Co. ("MTH") and Cede & Co. ("Cede"), are New York partnerships. MTH is an investment banking firm, a registered broker-dealer and a member of the New York and American Stock Exchanges. Cede holds for MTH a number of shares of the defendant, The Penn Traffic Company, ("PTC" or "Company").

PTC is a Pennsylvania corporation engaged primarily in the operation...

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