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JOHNS HOPKINS UNIVERSITY v. HUTTON

No. 13293.

422 F.2d 1124 (1970)

The JOHNS HOPKINS UNIVERSITY, Appellee, v. William E. HUTTON et al., Appellants.

United States Court of Appeals, Fourth Circuit.

Decided February 18, 1970.

Attorney(s) appearing for the Case

John F. King, Baltimore, Md. (John A. Wilson, Michael J. DeSantis, Robert A. Butler, and Shearman & Sterling, New York City, on brief) for appellants.

John Henry Lewin and Edmund P. Dandridge, Jr., Baltimore, Md. (Venable, brief), for appellee. Benjamin C. Howard, Royall, Koegel & Wells, Baltimore, Md., Bardusch, Johnson, Scheminger & Duncan, New York City, on brief for Ragnar D. Naess, and Naess & Thomas.

Before BOREMAN, BRYAN, and BUTZNER, Circuit Judges.

BUTZNER, Circuit Judge:

Johns Hopkins University brought this action against the partners of W. E. Hutton & Co., a stock brokerage firm, to rescind Hopkins' purchase of an oil and gas production payment from Trice Production Co. After extensive pretrial litigation, the district court (Kaufman, J.) granted Hopkins' motion for summary judgment on the ground that Hutton's employee, Gilbert H. LaPiere, had violated Section 12(2) of the Securities Act of 1933.

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