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MATHERS FUND, INC. v. COLWELL CO.

No. 76-2069.

564 F.2d 780 (1977)

MATHERS FUND, INC., Plaintiff-Appellant, v. The COLWELL COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided November 4, 1977.

Attorney(s) appearing for the Case

Robert A. Downing, Chicago, Ill., for plaintiff-appellant.

Sheldon M. Jaffe, Los Angeles, Cal., Arthur T. Susman, Chicago, Ill., for defendant-appellee.

Before CASTLE and WOOD, Circuit Judges, and MARKEY, Chief Judge.

MARKEY, Chief Judge.

Appeal by plaintiff, Mathers Fund, Inc. (Fund) from an August 2, 1976 district court order dismissing Fund's complaint for failure to state a claim upon which relief can be granted. The complaint sought rescission of a stock sale on the ground that the purchaser was an "affiliated person." We affirm.

Background

On November 24, 1974, The Colwell Company (Colwell), a publicly held corporation engaged in the mortgage finance...

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