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ESCOTT v. BARCHRIS CONSTRUCTION CORPORATION

No. 260, Docket 29261.

340 F.2d 731 (1965)

Barry ESCOTT and others, Plaintiffs, v. BARCHRIS CONSTRUCTION CORPORATION, and others, Defendants-Respondents, George Hall, and others, Intervenors-Appellants.

United States Court of Appeals Second Circuit.

Decided January 18, 1965.

Attorney(s) appearing for the Case

Wm. Francis Corson, New York City (Garey & Garey, Allan K. Peckel, New York City, of counsel), for appellants.

Ralph M. Carson, New York City (Thomas P. Griesa, New York City, of counsel, Davis, Polk, Wardwell, Sunderland & Kiendl; Ferris, Bangs, Davis, Trafford & Syz; Emmet, Marvin & Martin; Olwine, Connelly, Chase, O'Donnell & Weyher; Milbank, Tweed, Hadley & McCloy; Sims & Friedman; Mullane & Moukad, New York City), for appellees.

Jack Friedman, New York City (Theodore R. Schreier, Leonard Sims, Sims & Friedman, New York City, of counsel), for appellees Vitolo, Russo and Pugliese.

Max Schoengold, New York City (Schoengold & Sporn, New York City), for appellee Birnbaum.

Philip A. Loomis, Jr., General Counsel, Securities and Exchange Commission, Washington, D. C. (David Ferber, Solicitor, Michael Joseph, Attorney, SEC), as amicus curiae.

Before FRIENDLY, HAYS and MARSHALL, Circuit Judges.

HAYS, Circuit Judge:

This action was brought under Section 11 of the Securities Act of 1933, 15 U.S.C. § 77k, by certain holders of debentures of the Barchris Construction Corporation, in behalf of themselves and others similarly situated to recover damages for a false registration statement. Another twenty-four debenture-holders have moved to intervene in the action as additional parties plaintiff. The motion to intervene was denied in the district court on...

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