CHASINS v. SMITH, BARNEY & CO.

Nos. 551, 657, Dockets 34326, 34456.

438 F.2d 1167 (1970)

Abram CHASINS, Appellee, v. SMITH, BARNEY & CO., Inc., Appellant.

United States Court of Appeals, Second Circuit.

Decided July 7, 1970.

Substituted Opinion and Rehearing Denied March 2, 1971.


Attorney(s) appearing for the Case

Marvin Schwartz, New York City (Sullivan & Cromwell, New York City, Michael M. Maney, New York City, of counsel), for appellant.

Edward M. Rosenfeld, New York City (Graubard, Moskowitz, McGoldrick, Dannett & Horowitz, New York City, Philip Kazon, Jack Weinberg, New York City, of counsel), for appellee.

Leonard M. Leiman, New York City (Reavis & McGrath, New York City, Richard O. Scribner, New York City, of counsel), on the brief for Ass'n of Stock Exchange Firms, amicus curiae.

Robert A. Bicks, Paul E. Arneson, New York City (Breed, Abbott & Morgan, New York City, Lloyd J. Derrickson, Vice President and Gen. Counsel, and Frank J. Wilson, Secretary and Associate Gen. Counsel, National Ass'n of Securities Dealers, Inc., Washington, D. C., on the brief for National Association of Securities Dealers, Inc. as amicus curiae.

Philip A. Loomis, Jr., Gen. Counsel, S. E. C., Washington, D. C., for Securities and Exchange Commission, as amicus curiae.

Before SMITH, KAUFMAN and HAYS, Circuit Judges.


Substituted Opinion and Rehearing In Banc Denied March 2, 1971.

J. JOSEPH SMITH, Circuit Judge:

On petition for rehearing, the opinion filed July 7, 1970 is withdrawn and the following opinion substituted therefor. The petition for rehearing is otherwise denied.

This is an appeal by Smith, Barney & Co., Inc., a stock brokerage firm [hereinafter "Smith, Barney"] from a judgment for damages on a determination by Judge Dudley B. Bonsal in the United...

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