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SECURITIES AND EXCHANGE COM'N v. GENERAL TIME CORP.

No. 197, Docket 32792.

407 F.2d 65 (1968)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. GENERAL TIME CORPORATION, Defendant-Appellant, and Talley Industries, Inc., American Investors Fund, Inc., and Chestnutt Corporation, Defendants-Appellees.

United States Court of Appeals Second Circuit.

Decided November 19, 1968.

Certiorari Denied January 13, 1969.

Attorney(s) appearing for the Case

Paul G. Pennoyer, Jr., New York City (Chadbourne, Parke, Whiteside & Wolff, New York City, Lawrence Kill and Jerold Oshinsky, New York City, of counsel), for appellant.

Walter L. Stratton, New York City (Donovan Leisure Newton & Irvin, New York City, Ben Vinar and Roger W. Kapp, New York City, of counsel), for appellee Talley Industries, Inc.

Clendon H. Lee, New York City (O'Connor & Farber, New York City, Stanley L. Sabel, New York City, of counsel), for appellees American Investors Fund, Inc. and Chestnutt Corp.

Richard V. Bandler, Associate Regional Administrator (Philip A. Loomis, Jr., Gen. Counsel, David Ferber, Sol., Paul Gonson, Asst. Gen. Counsel, Washington, D. C., Edwin H. Nordlinger, Securities and Exchange Commission, New York City, of counsel), for Securities and Exchange Commission, amicus curiae.

Before FRIENDLY, HAYS and FEINBERG, Circuit Judges.

Certiorari Denied January 13, 1969. See 89 S.Ct. 637.

FRIENDLY, Circuit Judge:

This is the third and, we hope, the last chapter of litigation in this court concerning the acquisition by Talley Industries, Inc. (Industries) and American Investors Fund, Inc. (Fund) of stock in General Time Corporation (GTC). The earlier ones, Docket Nos. 32506 and 32299/32300, are chronicled in 399 F.2d 396 (2 Cir. 1968) and

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