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BIESENBACH v. GUENTHER

No. 78-1487.

588 F.2d 400 (1978)

Ginn BIESENBACH, Joseph Levin, Henry Sharman, Lisa B. White, Appellants, v. John H. GUENTHER, Jr., A. T. Consoli, Richard E. Hunter, Fred Parquitte, Leon Prince, Heidelberg, Inc., Appellees.

United States Court of Appeals, Third Circuit.

Decided December 4, 1978.

Attorney(s) appearing for the Case

Bruce K. Cohen, Meredith, Cohen & Kepler, Philadelphia, Pa., for appellants.

Jeffrey R. Lerman, Thomas N. O'Neill, Jr., Montgomery, McCracken, Walker & Rhoads, Philadelphia, Pa., for appellees.

Before ROSENN, GARTH and HIGGINBOTHAM, Circuit Judges.

OPINION OF THE COURT

ROSENN, Circuit Judge.

This appeal involves the scope of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) (1976) (Act), and Rule 10b-5, 17 C.F.R. § 240.10b-5 (1977), in view of the recent Supreme Court decision in Santa Fe Industries, Inc. v. Green, 430 U.S. 462, 97 S.Ct. 1292, 51 L.Ed.2d 480 (1977). Plaintiffs' federal claims, brought in the United States District...

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