ACKER v. SCHULTE


74 F.Supp. 683 (1947)

ACKER et al. v. SCHULTE et al. SCHMOLKA et al. v. SAME.

District Court, S. D. New York.

May 26, 1947.


Attorney(s) appearing for the Case

Archibald Palmer, of New York City (Samuel Masia, of New York City, of counsel), for plaintiffs.

Gale, Bernays, Falk & Eisner, of New York City (Murray C. Bernays and Ellis J. Freedman, Both of New York City, of counsel), for defendant David A. Schulte.

Hirson, Bertini & Rothenberg, of New York City (Max L. Rothenberg, of New York City, of counsel), for defendant Park & Tilford, Inc.

Delson, Levin & Gordon, of New York City (I. Cyrus Gordon, of New York City, and Edward Marks, of Freehold, N. Y., of counsel), for defendants Ira Haupt and others, doing business as Ira Haupt & Co.

Roger S. Foster, Sol., Robert S. Rubin, Asst. Sol., and W. Victor Rodin, all of Philadelphia, Pa., for Securities and Exchange Commission, amici curiae.


CAFFEY, District Judge.

There are five motions by the defendants, Schulte, Park & Tilford, Inc., and Ira Haupt & Company, to require the plaintiffs to give security for costs, including reasonable attorneys' fees, pursuant to the provisions of Section 9(e) of the Securities Exchange Act of 1934, Section 78i (e), Title 15 U.S.C.A. Schulte asks for security of $25,000 in the Acker case and $15,000 in the Schmolka case. Park & Tilford, Inc., ask for security...

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