COLLINS v. SIGNETICS CORP.

Nos. 78-2500 to 78-2503.

605 F.2d 110 (1979)

COLLINS, Donald M. and Cillag, John R. v. SIGNETICS CORPORATION and Corning Glass Works. Appeal of John R. CILLAG in No. 78-2500. COLLINS, Donald M. and Cillag, John R. v. SIGNETICS CORPORATION and Corning Glass Works, Appellants in No. 78-2501. CILLAG, John R., Appellant in No. 78-2502, v. SIGNETICS CORPORATION and Corning Glass Works. John R. CILLAG, v. SIGNETICS CORPORATION and Corning Glass Works, Appellants in No. 78-2503.

United States Court of Appeals, Third Circuit.

Decided August 31, 1979.


Attorney(s) appearing for the Case

Richard K. Masterson (argued), Waters, Fleer, Cooper & Gallager, Philadelphia, Pa., for appellants.

Henry Kolowrat (argued), Jean Wegman Burns, James E. Hipolit, Dechert Price & Rhoads, Philadelphia, Pa., for appellees.

Before ALDISERT and WEIS, Circuit Judges, and DIAMOND, District Judge.


OPINION OF THE COURT

ALDISERT, Circuit Judge.

The major question for decision is whether absence of buyer-seller privity is fatal to a claim based on § 12(2) of the Securities Act of 1933.1 The district courts in this circuit that have addressed the question, including Judge McGlynn, the trial judge here, have ruled that unless some special relationship exists between the issuer...

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