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SPENCER COMPANIES, INC. v. ARMONK INDUSTRIES, INC.

No. 73-1283.

489 F.2d 704 (1973)

SPENCER COMPANIES, INC., Plaintiff-Appellant, v. ARMONK INDUSTRIES, INC., et al., Defendants-Appellees.

United States Court of Appeals, First Circuit.

Decided December 20, 1973.

Attorney(s) appearing for the Case

David J. Brody, Boston, Mass., with whom Lewis H. Weinstein and Foley, Hoag & Eliot, Boston, Mass., were on brief, for appellant.

Nathan T. Wolk, Boston, Mass., with whom Frank D. Aronson and Nathanson & Rudofsky, Boston, Mass., were on brief, for appellees.

Before COFFIN, Chief Judge, McENTEE and CAMPBELL, Circuit Judges.

LEVIN H. CAMPBELL, Circuit Judge.

On August 3, 1973, Spencer filed with the district court its complaint against Armonk Industries, Inc., eight other corporate defendants, and four individual defendants alleging common law fraud and federal securities law violations. Spencer alleged that it sold all of the stock of its wholly-owned subsidiary, R. P. Hazzard Co., to Armonk for cash and Armonk's note payable quarterly over four years and guaranteed by another defendant...

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