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ROWE v. MAREMONT CORP.

Nos. 86-2608, 86-2693.

850 F.2d 1226 (1988)

Herbert J. ROWE, et al., Plaintiffs-Appellees, Cross-Appellants, v. MAREMONT CORPORATION, Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided June 24, 1988.

Rehearing and Rehearing Denied August 4, 1988.

Attorney(s) appearing for the Case

Bernard J. Nussbaum, Sonnenschein Carlin Nath & Rosenthal, Chicago, Ill., for defendant-appellant, cross-appellee.

Robert W. Gettleman, D'Ancona & Pflaum, Chicago, Ill., for plaintiffs-appellees, cross-appellants.

Before RIPPLE and MANION, Circuit Judges, and ESCHBACH, Senior Circuit Judge.

Rehearing and Rehearing In Banc Denied August 4, 1988.

MANION, Circuit Judge.

Herbert J. Rowe, his wife, Ann M. Rowe, and the Continental Illinois National Bank1 sued Maremont Corporation for securities fraud under Section 10(b) of the Securities and Exchange Act of 1934, 15 U.S.C. § 78j(b), and SEC Rule 10b-5, 17 C.F.R. § 240.10b-5.2 The suit arose from a face-to-face transaction in July...

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