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MILLER v. SCHWEICKART

No. 74 Civ. 5089.

413 F.Supp. 1062 (1976)

Howard M. MILLER et al., Plaintiffs, v. Winfield H. SCHWEICKART et al., Defendants.

United States District Court, S. D. New York.

April 26, 1976.

Attorney(s) appearing for the Case

Freeman, Meade, Wasserman & Sharfman, New York City, Laurance V. Goodrich, Brooklyn Heights, N. Y., for plaintiffs; J. Owen Zurhellen, III, Charles I. Poret, New York City, of counsel.

Hays, Landsman & Head, New York City, for defendant Skelly Oil Co.; C. Lansing Hays, Jr., David Ross, New York City, of counsel.

Langberg & Ringel, New York City, for defendant Arthur Rafkind; Nathan Ringel, New York City, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiffs, limited partners of Schweickart & Co. ("Schweickart"), a securities broker-dealer and former member of the New York Stock Exchange, bring this action derivatively on behalf of Schweickart, which suffered a financial collapse in July 1974 and is now defunct. They assert claims against Skelly Oil Company ("Skelly") and others for violations of section 17 of the Securities Act of 1933,

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