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JOHNSON v. WIGGS

No. 29924.

443 F.2d 803 (1971)

C. G. JOHNSON, Plaintiff-Appellant, v. Herbert L. WIGGS, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

June 8, 1971.

Attorney(s) appearing for the Case

George A. Crowley, Fort Worth, Tex., Scurry, Scurry, Hodges & Johnson, Richard H. Hodges, Dallas, Tex., Brown, Crowley, Simon & Peebles, Fort Worth, Tex., for plaintiff-appellant.

George C. Chapman, Thompson, Knight, Simmons & Bullion, Dallas, Tex., for defendant-appellee.

Before JONES, BELL and SIMPSON, Circuit Judges.

JONES, Circuit Judge:

The appellant, C. G. Johnson, brought an action against the appellee, Herbert L. Wiggs, under Section 10(b) of the Securities Exchange Act of 1934, 15 U. S.C.A. § 78j and Rule 10b-5 of the Securities and Exchange Commission, 17 C. F.R. § 240.10b-5, claiming that Wiggs as an insider with information which he, Johnson, did not have, purchased securities from him at a price less than they were worth.

Johnson had retained Thomas...

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