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UNITED CALIFORNIA BANK v. SALIK

No. 72-2140.

481 F.2d 1012 (1973)

UNITED CALIFORNIA BANK, Plaintiff-Appellee, v. Charles E. SALIK et al., Defendants-Appellants.

United States Court of Appeals, Ninth Circuit.

As Modified on Denial of Rehearing September 17, 1973.

Attorney(s) appearing for the Case

Jack W. Crumley (argued), of Luce, Forward, Hamilton & Scripps, San Diego, Cal., Alan R. Bromberg (argued), Dallas, Tex., John C. Stiska, Michael L. Kirby, of Luce, Forward, Hamilton & Scripps, San Diego, Cal., Joel H. Pullen, of Davis, O'Connor & Pullen, San Antonio, Tex., for defendants-appellants.

William W. Vaughn (argued), Warren Cristopher, B. Boyd Hight, Jr., of O'Melveny & Myers, Los Angeles, Cal., Sullivan, Jones, Archer & Brucher, San Diego, Cal., for plaintiff-appellee.

Before HUFSTEDLER, TRASK and WALLACE, Circuit Judges.

WALLACE, Circuit Judge:

Plaintiff-appellee, United California Bank (UCB), sued in district court alleging a violation of federal securities law and a claim for breach of warranty under state law. Defendants-appellants are residents of the United States and former shareholders of the Salik Bank in Basel, A.G., a corporation organized under the laws of Switzerland.

The complaint stated that UCB had purchased the defendants' shares of stock in May, 1969, pursuant...

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