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FOSTER v. FINANCIAL TECHNOLOGY INC.

No. 73-3202.

517 F.2d 1068 (1975)

John Franklin FOSTER and Gary Kemp, Plaintiffs-Appellants, v. FINANCIAL TECHNOLOGY INC. et al., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

April 30, 1975.

Attorney(s) appearing for the Case

Paul S. Nesse, San Jose, Cal., for plaintiffs-appellants.

Royal M. Galvin, Beverly Hills, Cal., for defendants-appellee.

Before CHAMBERS and WRIGHT, Circuit Judges, and THOMPSON, District Judge.

OPINION

CHAMBERS, Circuit Judge:

In this action to recover damages for violations of section 5 of the Securities Act of 1933 and section 10(b) and rule 10b-5 of the Securities Exchange Act of 1934, plaintiffs Foster and Kemp appeal from a summary judgment for defendants. The only issue before us is whether, taking plaintiffs' allegations as true, defendants' violations of the securities laws entitle plaintiffs to any monetary relief.

In 1970, plaintiffs...

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