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ROBERTS v. MAGNETIC METALS CO.

Civ. A. No. 78-23.

463 F.Supp. 934 (1978)

James R. ROBERTS, on behalf of himself and all others similarly situated, Plaintiff, v. MAGNETIC METALS COMPANY, Magmetco, Inc., D. C. Langworthy, and Butcher & Singer, Inc., Defendants.

United States District Court, D. New Jersey.

On Renewal of Motion for Summary Judgment January 17, 1979.

Attorney(s) appearing for the Case

Philip S. Fuoco, Haddonfield, N. J., and Richard D. Greenfield, Greenfield & Schoen, P. C., Bala Cynwyd, Pa., for plaintiff.

John V. Fiorella, Archer, Greiner & Read, Haddonfield, N. J., and Arthur Makadon, John B. Langel, Joanne L. Thomas, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for defendants Magnetic Metals Co., Magmetco, Inc. and D. C. Langworthy.

David Gutin, Camden, N. J., and Roslyn G. Pollack, Cohen, Shapiro, Polisher, Shiekman & Cohen, Philadelphia, Pa., for defendant Butcher & Singer, Inc.

OPINION

BROTMAN, District Judge.

I. Factual Background

Plaintiff James R. Roberts has filed this class action complaint against Magnetic Metals Company [hereinafter Metals], Magmetco, Inc., Butcher & Singer, Inc., and D. C. Langworthy, president of both Metals and Magmetco, for alleged violations of the Securities Exchange Act of 1934, as amended, 15 U.S.C. § 78aa et seq. [hereinafter the 1934 Act]. Various pendent state...

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