STELLA v. KAISER

No. 60, Docket 23107.

221 F.2d 115 (1955)

Michael STELLA, on behalf of himself and all other stockholders of Kaiser-Frazer Corporation, Plaintiff-Appellant, v. Henry J. KAISER, Joseph W. Frazer, Edgar F. Kaiser, G. G. Sherwood, E. E. Trefethen, Jr., Clay P. Bedford, W. A. MacDonald, O. B. Motter, Hickman Price, Jr., Walston S. Brown and Kaiser-Frazer Corporation, Defendants-Appellees.

United States Court of Appeals Second Circuit.

Decided April 11, 1955.


Attorney(s) appearing for the Case

Lewis M. Dabney, Jr., New York City, for plaintiff-appellant.

Willkie, Owen, Farr, Gallagher & Walton, New York City, for appellee, Kaiser-Frazer Corp.

Corbin, Bennett & Delehanty, New York City, for appellees, Henry J. Kaiser, Joseph W. Frazer, 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.

Before CLARK, Chief Judge, and L. HAND and FRANK, Circuit Judges.


L. HAND and FRANK, Circuit Judges.

The appellant begins his petition by saying that it is "addressed to the concurring opinion," and for that reason we confine ourselves to the point raised therein. First, we hold that the question whether the release of those who were defendants in the Michigan action is a release of Brown is a question of federal law, because the only claim in suit arises under the Securities Exchange Act of 1934, 15 U.S.C.A. § 78a et seq....

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