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KEERS AND COMPANY v. AMERICAN STEEL AND PUMP CORPORATION

234 F.Supp. 201 (1964)

KEERS AND COMPANY, a Partnership, Harry Langer, C. Phillip Lowe, Florence Luna, James F. McCormick, Phillip P. Platt, David N. Platt, Leonard E. Strong and Harry C. Wood, Plaintiffs, v. AMERICAN STEEL AND PUMP CORPORATION, a Delaware Corporation, B. S. F. Company, a Delaware Corporation, Alfred H. Howell, Victor Muscat, Robert L. Huffines, Jr. and First National City Bank, a New York Corporation, as Executor of the Estate of Ambrose W. Benkert, Deceased, Defendants.

United States District Court S. D. New York.

September 28, 1964.

Attorney(s) appearing for the Case

Philip Handelman, New York City, for plaintiffs, Lawrence M. Powers, Robert M. Trien, Northrop & Jessop, New York City, of counsel.

Carter, Ledyard & Milburn, New York City, for American Steel and Pump Corp., Alfred H. Howell and First Nat. City Bank, Devereux Milburn, Raymond P. O'Keefe, New York City, of counsel.

Saxe, Bacon & O'Shea, New York City, for B. S. F. Co., Victor Muscat and Robert L. Huffines, Jr.

MacMAHON, District Judge.

Defendants move, pursuant to Rules 12(b) (1) and 12(b) (6) of the Federal Rules of Civil Procedure, to dismiss the amended complaint for lack of jurisdiction over the subject matter of this action.

Plaintiffs, minority stockholders of American Steel and Pump Corporation (American), invoke federal jurisdiction under the Securities Acts of 1933 and 1934. They sue on behalf of American and all other stockholders similarly situated to...

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