KAPLAN v. LEHMAN BROTHERS

Civ. A. No. 65 C 407.

250 F.Supp. 562 (1966)

Harold Z. KAPLAN et al., Plaintiffs, v. LEHMAN BROTHERS et al., Defendants.

United States District Court N. D. Illinois, E. D.

February 25, 1966.


Attorney(s) appearing for the Case

A. Bradley Eben, Joseph A. Rosin, of Chicago, Ill., for plaintiffs.

John T. Chadwell, Richard M. Keck, Luther C. McKinney, Chicago, Ill., for defendant New York Stock Exchange; Chadwell, Keck, Kayser, Ruggles & McLaren, Chicago, Ill., of counsel.

Hammond E. Chaffetz, William R. Jentes, Chicago, Ill., for defendants Lehman Bros., Goodbody & Co., Dominick & Dominick, Inc. and Paine, Webber, Jackson and Curtis; Kirkland, Ellis, Hodson, Chaffetz & Masters, Chicago, Ill., of counsel.

Roger W. Barrett, William Bruce Hoff, Jr., Chicago, Ill., for defendants Lehman Corp., One William Street Fund, and Dominick Fund, Inc.; Mayer, Friedlich, Spiess, Tierney, Brown & Platt, Chicago, Ill., of counsel.

Joseph D. Block, Chicago, Ill., for defendant Energy Fund, Inc.; Aaron, Aaron, Schimberg & Hess, Chicago, Ill., of counsel.

Edward Bullard, Charles A. Bane, Robert Hanley, Thomas L. Nicholson, Chicago, Ill., for defendant Chemical Fund Inc.; Isham, Lincoln & Beale, Chicago, Ill., of counsel.


JULIUS J. HOFFMAN, District Judge.

A seeming conflict between the federal antitrust laws and the Securities Exchange Act of 1934 is the source of this controversy. The reconciliation of these apparently opposing policies is a matter of considerable moment to the financial community and to the investing public. The point at issue is the legality of the practices of stock exchanges in fixing minimum rates for the commissions charged by stock exchange members for the...

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