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CLEGG v. CONK

No. 74-1059.

507 F.2d 1351 (1974)

Will L. CLEGG et al., Plaintiffs-Appellees, v. Leo H. CONK, Defendant-Appellant.

United States Court of Appeals, Tenth Circuit.

Decided December 5, 1974.

Attorney(s) appearing for the Case

Byron L. Stubbs, Salt Lake City, Utah, for defendant-appellant.

Lowell N. Hawkes, Salt Lake City, Utah (Harold G. Christensen of Worsley, Snow & Christensen, Salt Lake City, Utah, with him on the brief), for plaintiffs-appellees.

Before LEWIS, Chief Judge, HOLLOWAY, Circuit Judge, and CHRISTENSEN, Senior District Judge.

CHRISTENSEN, Senior District Judge.

This appeal from judgment on the verdict in a securities case raises questions concerning the applicable statute of limitations and the elements of scienter and reliance in so-called 10b-5 actions.

Plaintiffs' complaint was "based upon violation of laws of the United States and the State of Utah including the proscriptions of Section 17(a) of the Securities Act of 1933 (15 U.S.C. Sec. 77q), Section 10(b) of the Securities...

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