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LEWIS v. WELLS

No. 69 Civ. 4968.

325 F.Supp. 382 (1971)

Harry LEWIS, Plaintiff, v. Sidney J. WELLS, Howard Swernoff, Jac A. Mooney, Munio Podhorzer and the Wolf Corporation, Defendants.

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

March 27, 1971.

Attorney(s) appearing for the Case

Morris J. Levy, New York City, for plaintiff.

Mermelstein, Burns & Lesser, New York City, for defendants.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiff's motion for summary judgment in this action to recover short-swing profits under section 16(b) of the Securities Exchange Act of 19341 triggered a cross-motion by the defendants for summary judgment dismissing the complaint upon the merits or striking it as sham and false under Rule 11 of the Federal Rules of Civil Procedure.

We first consider the defendants' motion...

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