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RYAN v. J. WALTER THOMPSON COMPANY

No. 67, Docket 71-1358.

453 F.2d 444 (1971)

O'Neill RYAN and United States Trust Company of New York, as Trustee of a Trust dated April 15, 1968 for the benefit of Sara Ryan HILL, Plaintiffs-Appellants, v. J. WALTER THOMPSON COMPANY, Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided November 18, 1971.

Attorney(s) appearing for the Case

Leo T. Kissam, New York City (Anthony S. Genovese, Robert A. Warren, Michael F. Fitzgerald and Kissam & Halpin, New York City, on the brief), for appellants.

Edward J. Ross, New York City (Miriam C. Feigelson and Breed, Abbott & Morgan, New York City, on the brief), for appellee.

Before WATERMAN, SMITH and TIMBERS, Circuit Judges.

PER CURIAM:

This case is another example of a trend we have observed with disturbing frequency, namely, invocation of the salutary anti-fraud provisions of the federal securities laws in cases where those provisions are wholly inappropriate and wide of the Congressional mark. Moreover, the vice of this practice is compounded here by engrafting upon the misplaced federal securities law claim a state law claim that, but for the federal gloss, should have been litigated...

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