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BEECHER v. ABLE

Nos. 66 Civ. 3471, 66 Civ. 3382, 66 Civ. 3775.

435 F.Supp. 397 (1977)

Lawrence J. BEECHER et al., Plaintiffs, v. Charles R. ABLE et al., Defendants. Harry H. LEVY, Plaintiff, v. DOUGLAS AIRCRAFT COMPANY, INC., et al., Defendants. Lillian GOTTESMAN, Plaintiff, v. A. V. LESLIE et al., Defendants.

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

On Issue September 26, 1975.

As Amended October 1, 1975.

On Fee Application July 1, 1977.

As Amended August 16, 1977.

Attorney(s) appearing for the Case

Pomerantz, Levy, Haudek & Block by Abraham L. Pomerantz, Robert B. Block, A. Arnold Gershon, Roger Haudek, New York City, Lead Trial Counsel for plaintiffs.

Milberg & Weiss by Lawrence Milberg, New York City, for plaintiff Gottesman.

Joseph Calderon, New York City, for plaintiff Levy.

White & Case by Haliburton Fales, II, Rayner M. Hamilton, Sharon E. Grubin, New York City, for defendant Douglas Aircraft Co., Inc.

On the Issue of Liability under Rule 10b-5 September 26, 1975.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

MOTLEY, District Judge.

INTRODUCTION

In its Findings of Fact and Conclusions of Law, dated March 20, 1974, the court found that defendant Douglas Aircraft Company, Inc. (Douglas) had on July 12, 1966 sold $75 million of its 4¾ convertible debentures due July 1, 1991 under a materially false prospectus. In particular, the court...

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