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BECKER v. SCHENLEY INDUSTRIES, INC.

No. 1223, Docket 77-7109.

557 F.2d 346 (1977)

David BECKER and Margaret B. Ledder, Plaintiffs-Appellants, v. SCHENLEY INDUSTRIES, INC., Glen Alden Corporation and Rapid-American Corporation, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided June 23, 1977.

Attorney(s) appearing for the Case

James S. Gordon, Chicago, Ill. (Martin E. Silfen, New York City, Edward Slovick, Chicago, Ill., on the brief), for plaintiffs-appellants.

Leon Silverman, New York City (Fried, Frank, Harris, Shriver & Jacobson, and Rubin, Baum, Levin, Constant & Friedman, New York City, on the brief), for defendants-appellees.

Before VAN GRAAFEILAND, Circuit Judge, and MEHRTENS and PIERCE, District Judges.

MEHRTENS, District Judge:

Plaintiffs appeal, alleging abuse of judicial discretion in the denial of their motion for class action certification. We affirm the decision of the district judge.

The plaintiffs are former minority shareholders of BHM Industries, Inc., and instituted this action under the federal securities laws with respect to a December 1969 merger of BHM and its controlling shareholder, Schenley Industries, Inc., by which plaintiffs' BHM stock...

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