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601 WEST 26 CORP. v. SOLITRON DEVICES, INC.

No. 592, Docket 32832.

420 F.2d 293 (1969)

601 WEST 26 CORP., Appellant, v. SOLITRON DEVICES, INC., Benjamin Friedman and Louis Sternbach & Co., Appellees.

United States Court of Appeals Second Circuit.

Decided June 26, 1969.

Attorney(s) appearing for the Case

Stuart A. Summit, New York City (Miller & Summit, New York City, on the brief), for appellant.

Paul Windels, Jr., New York City (Windels, Merritt & Ingraham, Carro, Spanbock & London, and Erdheim & Shalleck, New York City, on the brief), for appellees Solitron Devices, Inc. and Benjamin Friedman.

John M. Burns, III, New York City, (Spear & Hill, Thomas W. Hill, Jr., Donald Stuart Bab, New York City on the brief), for appellee Louis Sternbach & Co.

Before WATERMAN, FRIENDLY and KAUFMAN, Circuit Judges.

PER CURIAM:

601 W. 26 Corp. (plaintiff) engages in the business of writing calls — options by which it agrees to sell a given security at an agreed price at any time within six months. In the course of its business, plaintiff wrote calls on 32,600 shares of the common stock of Solitron Corp., an electronics corporation whose stock is traded on the American Stock Exchange at widely fluctuating prices. If the price of...

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