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FRANKLIN LIFE INS. CO. v. COM. EDISON CO.

No. 78-1896.

598 F.2d 1109 (1979)

The FRANKLIN LIFE INSURANCE COMPANY et al., Plaintiffs-Appellants, v. COMMONWEALTH EDISON COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 22, 1979.

Rehearing and Rehearing Denied June 27, 1979.

Attorney(s) appearing for the Case

Frederick H. Stone, Springfield, Ill., for plaintiffs-appellants.

A. Daniel Feldman, Chicago, Ill., for defendant-appellee.

Before PELL and BAUER, Circuit Judges, and NOLAND, District Judge.

Rehearing and Rehearing En Banc Denied June 27, 1979.

PER CURIAM.

This action arose out of the issuance and subsequent redemption of one million shares of 9.44% Cumulative Prior Preferred Stock at a par value of $100 per share by the defendant. The plaintiffs alleged violations of §§ 11 and 17 of the Securities Act of 1933, 15 U.S.C. §§ 77k and 77q, and § 10(b) of the Securities Act of 1934,

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