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CHRIS-CRAFT INDUSTRIES, INC. v. PIPER AIRCRAFT CORP.

Nos. 672, 1055, Dockets 74-2542, 75-7003.

516 F.2d 172 (1975)

CHRIS-CRAFT INDUSTRIES, INC., Plaintiff-Appellant-Cross-Appellee, v. PIPER AIRCRAFT CORPORATION et al., Defendant-Appellees-Cross-Appellants.

United States Court of Appeals, Second Circuit.

Decided April 11, 1975.

Rehearing Denied June 9, 1975.

Attorney(s) appearing for the Case

Arthur L. Liman, New York City (Stuart Robinowitz, Jack C. Auspitz, Anthony M. Radice, Richard A. Miller, and Paul, Weiss, Rifkind, Wharton & Garrison, New York City, on the brief), for Chris-Craft Industries, Inc.

James V. Ryan, New York City (C. Kenneth Shank, Jr., Allan J. Graf, and Webster Sheffield Fleischmann Hitchcock & Brookfield, New York City, on the brief), for Bangor Punta Corp., Nicolas M. Salgo and David W. Wallace.

John F. Arning, New York City (Charles W. Sullivan, Richard Urowsky, and Sullivan & Cromwell, New York City, on the brief), for The First Boston Corp.

Zachary Shimer, New York City (Chadbourne, Parke, Whiteside & Wolff, New York City, on the brief), for Howard Piper, Thomas F. Piper and William T. Piper, Jr.

Lawrence E. Nerheim, General Counsel, David Ferber, Solicitor, and Charles E. H. Luedde, Attorney Fellow, SEC, Washington, D. C., for Securities and Exchange Commission, amicus curiae.

Before MANSFIELD, OAKES and TIMBERS, Circuit Judges.

Rehearing En Banc Denied June 9, 1975.

TIMBERS, Circuit Judge:

On these cross-appeals from a judgment entered November 25, 1974 after a four day hearing in the Southern District of New York, Milton Pollack, District Judge, 384 F.Supp. 507, pursuant to the remand ordered in our prior decision, Chris-Craft Industries, Inc. v. Piper Aircraft Corp., 480 F.2d 341 (2 Cir.), cert. denied, 414...

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