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PARKINSON v. APRIL INDUSTRIES, INC.

Nos. 1288, 520, Dockets 74-2058, 74-2214.

520 F.2d 650 (1975)

Samuel PARKINSON, as Custodian for Andrew Parkinson, et al., Plaintiffs-Appellees, v. APRIL INDUSTRIES, INC., et al., Defendants-Appellants, and Alex M. Parker, Defendant.

United States Court of Appeals, Second Circuit.

Decided June 30, 1975.

Attorney(s) appearing for the Case

Edward Labaton, Douglas A. Cooper, Shatzkin, Cooper, Labaton, Rudoff & Bandler, New York City, for plaintiffs-appellees.

Wilbur G. Silverman, Jamaica, N.Y., for defendants-appellants.

Before WATERMAN, FRIENDLY and GURFEIN, Circuit Judges.

WATERMAN, Circuit Judge:

The plaintiffs filed a complaint on June 25, 1973 in the United States District Court for the Southern District of New York alleging that the defendants April Industries, Inc. (April), and several of its officers, artificially inflated the earnings and prospects of the company through the use of false and misleading statements, thereby, in violation of Rule 10b-5 under the Securities Exchange Act of 1934, 17 CFR 240.10b-5, manipulating the...

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