FAIRCHILD, Circuit Judge.
This action concerns securities of defendant Amalgamated Labor Life Insurance Company. Plaintiff Allico National Corporation (formerly The Gold Star Life Company of America) agreed in 1965 to buy Labor Life from defendant Amalgamated Meat Cutters and Butcher Workmen of North America, a labor union. Allico agreed to buy 400,000 shares of common stock and a $750,000 debenture note from the Union. Allico was to buy the note for $750,000 on July...
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