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AXELROD & CO. v. KORDICH, VICTOR & NEUFELD

No. 70-Civ. 4965.

320 F.Supp. 193 (1970)

AXELROD & CO., Plaintiff, v. KORDICH, VICTOR & NEUFELD, Defendant.

United States District Court, S. D. New York.

December 31, 1970.

Attorney(s) appearing for the Case

Barr, Bennett & Fullen, New York City, for plaintiff; by Robert E. Smith and Frank R. Greenberg, New York City, of counsel.

Delson & Gordon, New York City, for defendant; by Evan L. Gordon, New York City, of counsel.

MEMORANDUM

CROAKE, District Judge.

In June of 1970 the firm of Kordich, Victor and Neufeld, defendant herein, "sold" 5000 shares of the common stock of On Site Energy Systems Corp. to plaintiff Axelrod & Co. When plaintiff refused to accept tender, defendant "sold out" the stock and instituted arbitration proceedings before the New York Stock Exchange to recover the loss allegedly incurred. In lieu of answering the notice of arbitration, plaintiff commenced...

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