CHRIS-CRAFT INDUSTRIES, INC. v. PIPER AIRCRAFT CORP.

Nos. 805-808, Dockets 72-1053, 72-1064, 72-1120, 72-1140.

480 F.2d 341 (1973)

CHRIS-CRAFT INDUSTRIES, INC., Plaintiff-Appellant, v. PIPER AIRCRAFT CORPORATION, Howard Piper, Thomas F. Piper, William T. Piper, Jr., Bangor Punta Corporation, Nicolas M. Salgo, David M. Wallace, The First Boston Corporation, Paul L. Miller and Nicholas H. Bayard, Defendants-Appellees. BANGOR PUNTA CORPORATION, Plaintiff-Appellant, v. CHRIS-CRAFT INDUSTRIES, INC., Defendant-Appellee. SECURITIES AND EXCHANGE COMMISSION, Plaintiff-Appellant-Appellee, v. BANGOR PUNTA CORPORATION, Defendant-Appellee-Appellant.

United States Court of Appeals, Second Circuit.

Decided March 16, 1973.


Attorney(s) appearing for the Case

Arthur L. Liman, New York City (Stuart Robinowitz, Joseph J. Ackell, Jack C. Auspitz, Anthony M. Radice, and Paul, Weiss, Rifkind, Wharton & Garrison, New York City, on the brief), for Chris-Craft Industries, Inc. (plaintiff-appellant in No. 72-1064; defendant-appellee in No. 72-1120).

Zachary Shimer, New York City (Paul G. Pennoyer, Jr., Irene C. Warshauer, and Chadbourne, Parke, Whiteside & Wolff, New York City, on the brief), for Piper Aircraft Corp., Howard Piper, Thomas F. Piper, and William T. Piper, Jr. (defendants-appellees in No. 72-1064).

James V. Ryan, New York City (William L. D. Barrett, C. Kenneth Shank, Jr., and Webster, Sheffield, Fleischmann, Hitchcock & Brookfield, New York City, on the brief), for Bangor Punta Corp. (defendant-appellee in No. 72-1064; plaintiff-appellant in No. 72-1120; defendant-appellee-appellant in Nos. 72-1053 and 72-1140) and for Nicolas M. Salgo and David W. Wallace (defendant-appellees in No. 72-1064).

John F. Arning, New York City (Roger L. Waldman, Charles W. Sullivan, and Sullivan & Cromwell, New York City, on the brief), for The First Boston Corp., Paul L. Miller, and Nicholas H. Bayard (defendants-appellees in No. 72-1064).

Robert E. Kushner, Asst. Gen. Counsel, SEC, Washington, D. C. (G. Bradford Cook, Gen. Counsel, David Ferber, Solicitor, and James J. Sexton, Atty., SEC, Washington, D. C., on the brief), for SEC (amicus curiae in No. 72-1064; plaintiff-appellant-appellee in Nos. 72-1053 and 72-1140).


INDEX

                                                            Page

PRELIMINARY STATEMENT ______________________________________ 349

 I. EVENTS LEADING TO INSTANT LITIGATION ___________________ 349

II. CHRIS-CRAFT INDUSTRIES, INC. v. PIPER AIRCRAFT
    CORPORATION, ET AL. (No. 72-1064) ______________________ 355

    (A) FUNCTION OF PRIVATE ACTION FOR DAMAGES
        IN ENFORCEMENT OF FEDERAL SECURITIES...

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