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REPUBLIC TECHNOLOGY FUND, INC. v. LIONEL CORPORATION

Nos. 529, 530, Dockets 72-1901, 72-1902.

483 F.2d 540 (1973)

REPUBLIC TECHNOLOGY FUND, INC., Plaintiff-Appellant, v. The LIONEL CORPORATION, Defendant-Appellee. The NEW ENGLAND INDUSTRIES, INC., Plaintiff-Appellant, v. The LIONEL CORPORATION, Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided July 17, 1973.

Attorney(s) appearing for the Case

Sheldon H. Elsen, Orans, Elsen & Polstein, New York City (Lewis Shapiro and Leslie A. Lupert, New York City, on the brief), for plaintiffs-appellants.

James E. Tolan, Olwine, Connelly, Chase, O'Donnell & Weyher, New York City (Judith S. Kaye, New York City, on the brief), for defendant-appellee.

Before HAYS, MULLIGAN and OAKES, Circuit Judges.

OAKES, Circuit Judge:

This case is the unhappy aftermath of a corporate marriage gone sour, with the bride's family claiming that the groom failed to disclose a number of liabilities at the time of the negotiations leading up to the nuptials. The appeal is from a judgment absolving the appellee from liability under either contractual or securities law in connection with an interim (six months') financial statement, used in proxy materials and in a registration statement...

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