CORDOVA v. BACHE & CO.

No. 70 Civ. 3152.

321 F.Supp. 600 (1970)

Sam CORDOVA, President of the American Association of Securities Representatives, et al., Plaintiffs, v. BACHE & CO., Inc., et al., Defendants.

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

December 9, 1970.


Attorney(s) appearing for the Case

Abraham E. Freedman, New York City, for plaintiffs; Charles Sovel, New York City, of counsel.

Sullivan & Cromwell, New York City, for defendants Bache & Co., Inc., Hornblower & Weeks-Hemphill, Noyes, Kidder, Peabody & Co., Inc., The First Boston Corp., Dean Witter & Co. and Smith, Barney & Co., Inc.; Michael M. Maney, New York City, of counsel.

Breed, Abbott & Morgan, New York City, for defendants Walston & Co., Inc. and Orvis Brothers & Co.; Robert A. Bicks, New York City, of counsel.

Reavis & McGrath, New York City, for defendant Association of Stock Exchange Firms; James P. Durante and Lawrence W. Boes, New York City, of counsel.

Milbank, Tweed, Hadley & McCloy, New York City, for defendant The New York Stock Exchange; William E. Jackson, Isaac Shapiro, and Russell E. Brooks, New York City, of counsel.

Cahill, Gordon, Sonnett, Reindel & Ohl, New York City, for defendants E. F. Hutton & Co., Inc. and Loeb, Rhoades & Co.; David R. Hyde, New York City, of counsel.

Hall, McNicol, Marett & Hamilton, New York City, for defendant Thomson & McKinnon Auchincloss, Inc.; Donald G. McCabe, New York City, of counsel.

Simpson, Thacher & Bartlett, New York City, for defendants Lehman Brothers and Tucker, Anthony & R. L. Day; James J. Hagan, New York City, of counsel.

A. George Saks, New York City, for defendant Blair & Co., Inc.

Baer & Marks, New York City, for defendant Hentz & Co.; Stephen F. Selig, New York City, of counsel.

Blanc, Thomas & Mitchell, New York City, for defendant Delafield & Delafield; Eugene Blanc, and James A. Thomas, Jr., New York City, of counsel.

Clare & Whitehead, New York City, for defendant Goodbody & Co.; William F. Clare, Jr., and Leonard B. Boehner, New York City, of counsel.

Guggenheimer & Untermyer, New York City, for defendants Hirsch & Co. and Oppenheimer & Co.; Leon H. Tykulsker, New York City, of counsel.

Gifford, Woody, Carter & Hays, New York City, for defendant Harris, Upham & Co., Inc.; Donald C. Hays, New York City, of counsel.

Monaghan & Walsh, New York City, for defendant Dominick & Dominick, Inc.; John F. Walsh, New York City, of counsel.

Parker, Chapin & Flattau, New York City, for defendant Shearson, Hammill & Co., Inc.; Alvin M. Stein, and Barry J. Brett, New York City, of counsel.

G. Raymond Empson, New York City, for defendant Halle & Stieglitz, Inc.

Weil, Gotshal & Manges, New York City, for defendant Dempsey Tegler & Co., Inc.; Peter Gruenberger, New York City, of counsel.

Llewellyn P. Young, New York City, for defendants F. I. DuPont, Glore Forgan & Co., sued as Francis 1. DuPont & Co., and duPont Glore Forgan Inc. sued as Glore-Forgan-William R. Staats, Inc.

LeBoeuf, Lamb & MacRae, New York City, for defendant A. G. Edwards & Sons, Inc.; H. Richard Wachtel, and A. R. Van Doren, New York City, of counsel.

Spear & Hill, New York City, for defendant Reynolds & Co.; Eliot H. Lumbard and Lawrence Grosberg, New York City, of counsel.

Winthrop, Stimson, Putnam & Roberts, New York City, for defendants Bear, Stearns & Co. and R. W. Pressprich & Co., Inc.; Stephen Weiner, New York City, of counsel.

Dewey, Ballantine, Bushby, Palmer & Wood, New York City, for defendant Shields & Co.; Leonard Joseph and Russell H. Beatie, Jr., New York City, of counsel.

Mudge, Rose, Guthrie & Alexander, New York City, for defendant Stone & Webster Securities Corp.; Gerard A. Dupuis, New York City, of counsel.

Shearman & Sterling, New York City, for defendant W. E. Hutton; George J. Wade, New York City, of counsel.

Seward & Kissel, New York City, for defendant Rauscher Pierce Securities Corp.; Eugene P. Souther and Walter Parrs, Jr., New York City, of counsel.

Moses & Singer, New York City, for defendant L. F. Rothschild & Co.; Felix A. Fishman, New York City, of counsel.

Beekman & Bogue, New York City, for defendant Paine, Webber, Jackson & Curtis; L. S. Weeks, Jr., New York City, of counsel.

Patricia A. O'Brien, New York City, for defendant Scheinman, Hochstin & Trotta, Inc.

Bressler, Meislin, Tauber & Bressler, New York City, for defendant Pressman Frolich & Frost, Inc.; Burton R. Tauber, New York City, of counsel.

Golenbock & Barell, New York City, for defendant Newburger, Loeb & Co.; Arthur Silverman, New York City, of counsel.

Nathan Leventon, New York City, for defendant Steiner, Rouse & Co., Inc.

E. Michael Growney, Jr., New York City, for defendant Spencer Trask & Co., Inc.

Brown, Wood, Fuller, Caldwell & Ivey, New York City, for defendant Merrill Lynch, Pierce, Fenner & Smith, Inc.; Walter G. McNeill, New York City, of counsel.


MANSFIELD, District Judge.

In this suit purportedly brought on behalf of securities representatives ("representatives" herein) charging their employers (some 42 leading stock exchange brokerage firms and the New York Stock Exchange) with conspiracy to reduce commissions paid to representatives in violation of the Sherman Act, defendants have moved to dismiss the complaint pursuant to Rules 12(b) (1) and (6), F.R.Civ.P.

Plaintiff is the President of the American...

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