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McCLUNE v. SHAMAH

No. 78-1795.

593 F.2d 482 (1979)

Robert C. McCLUNE, and Hilda A. McClune, his wife, Joseph C. Weimer, Jack D. Adelson and Ruth B. Adelson, his wife, Sidney N. Busis and Sylvia A. Busis, his wife, Gaetano Dentici, Calvin Hill, James P. O'Malley and Dorothy J. O'Malley, his wife, Allen J. Cousin, Thomas D. O'Malley and Mary Alice O'Malley, his wife, Gerald S. Soroker, Stephen Bruno, Richard Dipietro, Mark H. Wholey, M. N. Adelson & Sons, Inc., a Pennsylvania business corporation, James Sloss, Leonard Merkow, Ned A. Nutz, Alex E. Sebastian, Miriam H. Sadler, Maida R. Rubenstein, William J. Ivill and Linda M. Ivill, his wife, Robert S. Ruben and Anne H. Ruben, his wife, J. L. Coon and Grace H. Coon, his wife, Robert Gifford, and Roman A. Babin v. Alfred A. SHAMAH, Steven J. Gumenick, Donald F. Martin, Jr., Brunswick Management Corporation, a Delaware business corporation, Babbitt Meyers & Company, a Pennsylvania partnership, Robert E. Rose, Spector Cohen Hunt & Rosen, a Pennsylvania professional corporation, and Arthur R. Spector, Edward E. Cohen, and Betsy Z. Cohen, trading as Spector & Cohen, a Pennsylvania partnership, Cedar Bayou, Ltd., a Pennsylvania limited partnership, Appellant.

United States Court of Appeals, Third Circuit.

Decided March 8, 1979.

Attorney(s) appearing for the Case

Robert L. Potter, Roslyn M. Litman, John E. Grasberger, Litman, Litman, Harris & Specter, P. A., Pittsburgh, Pa., for appellant.

William H. Holden, Jr., Weinberg & Green, Baltimore, Md., for appellees, Alfred A. Shamah, Steven J. Gumenick, and Brunswick Management Corp.

Stewart B. Barmen, Raphael, Sheinberg & Barmen, P. A., Pittsburgh, Pa., for appellee, Robert E. Rose.

Paul R. Rosen, Edward M. Dunham, Jr., Spector, Cohen, Hunt & Rosen, P. C., Philadelphia, Pa., for appellee, Spector, Cohen, Hunt & Rosen.

James J. Restivo, Jr., Arthur J. Schwab, Frederick N. Egler, Jr., Reed, Smith, Shaw & McClay, Pittsburgh, Pa., for appellees, Arthur R. Spector, Edward E. Cohen and Betsy Z. Cohen.

Before SEITZ, Chief Judge, and GIBBONS and HIGGINBOTHAM, Circuit Judges.

OPINION OF THE COURT

SEITZ, Chief Judge.

I.

Cedar Bayou, Ltd., a Pennsylvania limited partnership, appeals from an order of the district court denying its motion to intervene in this lawsuit, brought by all of its limited partners.

The limited partners filed suit in the district court on August 19, 1977, asserting causes of action under the Securities Act of 1933, the Securities Exchange Act of 1934 and pendent claims arising from their...

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