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STELLA v. KAISER

83 F.Supp. 431 (1949)

STELLA v. KAISER et al.

United States District Court S. D. New York.

April 4, 1949.

Attorney(s) appearing for the Case

Lewis M. Dabney, Jr., and Anderson & Carew, all of New York City (Lewis M. Dabney, Jr., John A. Anderson and Isadore H. Cohen, all of New York City, of counsel), for plaintiff.

Willkie, Owen, Farr, Gallagher & Walton, of New York City, for defendant Kaiser-Frazer Corporation.

Corbin, Bennett & Delehanty, of New York City (Harold H. Corbin, Mark F. Hughes and Francis B. Delehanty, Jr., all of New York City, of counsel), for defendants Henry J. Kaiser, Edgar F. Kaiser, G. G. Sherwood, E. E. Trefethen, Jr., Clay P. Bedford, W. A. MacDonald, O. B. Motter, Hickman Price, Jr., and Walston S. Brown.

KAUFMAN, District Judge.

Defendants move for security pursuant to Section 9(e) of the Securities Exchange Act of 1934, 15 U.S.C.A. § 78i(e). This subdivision, insofar as here pertinent, reads: "Any person who willfully participates in any act or transaction in violation of subsection (a), (b), or (c) of this section shall be liable to any person who shall purchase or sell any security at a price which was affected by such act or transaction, and the person so...

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