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HOCHFELDER v. MIDWEST STOCK EXCHANGE

Nos. 72-1977, 72-1978.

503 F.2d 364 (1974)

Olga HOCHFELDER, et al., Plaintiffs-Appellants, v. MIDWEST STOCK EXCHANGE, Defendant-Appellee. Leon S. MARTIN et al., Plaintiff-Appellants, v. MIDWEST STOCK EXCHANGE, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided April 10, 1974.

Certiorari Denied October 15, 1974.

Attorney(s) appearing for the Case

Willard L. King, Donald L. Vetter, Alex Elson, Willard J. Lassers, Chicago, Ill., for plaintiffs-appellants.

Milton H. Cohen, Chicago, Ill., for defendant-appellee.

Before SWYGERT, Chief Judge, CASTLE, Senior Circuit Judge, and SPRECHER, Circuit Judge.

Certiorari Denied October 15, 1974. See 95 S.Ct. 137.

SWYGERT, Chief Judge.

This is an appeal by plaintiffs from a grant of summary judgment in favor of defendant, Midwest Stock Exchange. Plaintiffs are various individuals1 who were victimized by a securities fraud perpetrated by Leston B. Nay, President of First Securities Company of Chicago and owner of ninety-two percent of its stock. First Securities was registered with the...

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