In re FRANKLIN NATIONAL BANK SECURITIES LITIGATION.
Robert GOLD, on behalf of himself and on behalf of all others similarly situated, Plaintiff-Appellant, and
Louis Pergament, Intervenor-Plaintiff-Appellant,
v.
ERNST & ERNST, Harold V. Gleason, Paul Luftig, Peter R. Shaddick, Michele Sindona, Carlo Bordoni, Howard D. Crosse, Andrew N. Garofalo, Donald H. Emrich, and Robert C. Panepinto, Defendants-Appellees.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued April 27, 1977.
Reargued November 15, 1977.
Decided April 3, 1978.
Attorney(s) appearing for the Case
Melvyn I. Weiss, New York City, N.Y. (David J. Bershad, Jared Specthrie, Jerome M. Congress, and Milberg, Weiss, Bershad & Specthrie, Liaison Attorneys for Class Action Plaintiffs and Attorneys for plaintiff-appellant Robert Gold, New York City, and Jessel Rothman, Mineola, N.Y., Attorney for intervenor-plaintiff-appellant Louis Pergament, on the brief), for plaintiff-appellant.
Barbara A. Lee, New York City, N.Y. (Justin N. Feldman and Poletti, Freidin, Prashker, Feldman & Gartner, New York City, for defendant-appellee Howard D. Crosse; Davis, Polk & Wardwell, New York City, for defendant-appellee Ernst & Ernst; Dewey, Ballantine, Bushby, Palmer & Wood, New York City, for defendant-appellee Harold V. Gleason; Battle, Fowler, Lidstone, Jaffin, Pierce & Kheel, New York City, for defendant-appellee Paul Luftig; Anderson, Russell, Kill & Olick, P. C., New York City, for defendant-appellee Peter R. Shaddick; Mudge, Rose, Guthrie & Alexander, New York City, for defendant-appellee Michele Sindona; DiFalco, Field & Lomenzo, New York City, for defendant-appellee Carlo Bordoni; and Pirrotti & Imperato, Brooklyn, N Y., for defendant-appellee Robert C. Panepinto, Brooklyn, New York, on the brief), for defendant-appellee Howard D. Crosse.
Robert P. Stein, New York City, N.Y. (Alvin K. Hellerstein, and Stroock & Stroock & Lavan, Richard O. Scribner, Senior Vice-President and Gen. Counsel for Securities Industry Ass'n, Michael D. Udoff, Robert P. Bramnik, Aaron Teitelbaum, Matthew Farley, New York City, Attorneys for Securities Industry Ass'n and Twenty-five Broker-Dealers, as amici curiae, New York, N.Y., on the brief), for amici curiae.
Before MEDINA and OAKES, Circuit Judges, and MISHLER, District Judge.
United States Court of Appeals, Second Circuit.
MEDINA, Circuit Judge:
This class action appeal1 was first argued before the present panel of judges of this Court on April 27, 1977. Plaintiff, who purchased 300 shares of common stock of Franklin New York Corporation on the over-the-counter market in New York City on May 9, 1974, seeks a recovery of money damages for an alleged security fraud against the independent accountants and certain former officers, directors, and employees of...
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