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CHELSEA ASSOCIATES v. RAPANOS

Civ. A. No. 34565.

376 F.Supp. 929 (1974)

CHELSEA ASSOCIATES, a Tennessee partnership, Plaintiff, v. John A. RAPANOS et al., Defendants.

United States District Court, E. D. Michigan, S. D.

May 10, 1974.

Attorney(s) appearing for the Case

Robert A. Fineman, of Honigman, Miller, Schwartz & Cohn, Detroit, Mich., for plaintiff.

Richard D. Rohr, of Bodman, Longley, Bogle, Armstrong & Dahling, Detroit, Mich., for defendants.

MEMORANDUM OPINION AND ORDER

JOINER, District Judge.

Plaintiff, Chelsea Associates, has instituted this action charging each of the named defendants with violations of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) and Rule 10b-5 (17 C.F.R. 240.10b-5), promulgated thereunder by the Commission.1

In simplest terms, this action arises out of the sale by the named defendants of a certain amount...

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