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5TH AVE. COACH LINES v. N. Y. STOCK EXCH.

26 A.D.2d 49 (1966)

Fifth Avenue Coach Lines, Inc., Respondent, v. New York Stock Exchange, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

June 9, 1966.

Attorney(s) appearing for the Case

Edward J. Reilly, Jr., of counsel (Samuel L. Rosenberry, William E. Jackson and A. Sidney Holderness, Jr., with him on the brief; Milbank, Tweed, Hadley & McCloy, attorneys), for appellant.

William H. Frappollo of counsel (John F. Lang, attorney), for respondent.

Philip A. Loomis, Jr., of counsel (Edward B. Wagner with him on the brief; Theodore Sonde, attorney), for Securities and Exchange Commission, amicus curiæ.

BREITEL, McNALLY, STEVENS and EAGER, JJ., concur.

BOTEIN, P. J.

Petitioner is a corporation, with capital stock which is listed and registered on the New York Stock Exchange, a national securities exchange registered with the Federal Securities and Exchange Commission. A rule of the Exchange provides, among other things, that "the Exchange would normally give consideration to suspending or removing from the list a security of a company when * * * the principal operating assets have been substantially...

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