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MARSHEL v. AFW FABRIC CORP.

No. 239, Docket 75-7404.

552 F.2d 471 (1977)

Arnold MARSHEL, Plaintiff-Appellant, v. AFW FABRIC CORP. et al., Defendants-Appellees. Barry L. SWIFT, Plaintiff-Appellant, v. CONCORD FABRICS INC. et al., Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided March 17, 1977.

Attorney(s) appearing for the Case

Martin A. Coleman, New York City (Rubin, Baum, Levin, Constant & Friedman, New York City, of counsel), for appellant Marshel.

Burton L. Knapp, New York City (Lipper, Lowery & Dannenberg, New York City, of counsel), for appellant Swift.

Sidney J. Silberman, New York City (Milton Sherman, Kaye, Scholer, Fierman, Hays & Handler, New York City, of counsel), for appellee Concord Fabrics Inc.

Kurt J. Wolff, New York City (Daniel Wallen, Otterbourg, Steindler, Houston & Rosen, P. C., New York City, of counsel), for appellees AFW Fabric Corp., Alvin Weinstein and Frank Weinstein.

Before SMITH, HAYS and MESKILL, Circuit Judges.

PER CURIAM:

This case, remanded to this Court by the Supreme Court of the United States, turns on one of the most debated questions in the securities field, whether or not a "going-private" transaction gives rise to a federal cause of action. We vacate the order of the district court, and remand the case with instructions to dismiss the prayer for in-junctive relief as moot, and to await the imminent resolution of this issue...

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