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SHAPIRO v. MIDWEST RUBBER RECLAIMING CO.

No. 79-1424.

626 F.2d 63 (1980)

Alvin J. SHAPIRO and Jeanne K. Shapiro, as Joint Tenants on behalf of themselves and all others similarly situated and derivatively on behalf of Midwest Rubber Reclaiming Company, Appellants, v. MIDWEST RUBBER RECLAIMING COMPANY, Midcon Industries, Inc., f/k/a Goodrich Realty & Development Group, Inc., Carl H. Totsch, Richard M. Cohen, Morris Weissman, Michael Miller and Stanley Kreitman, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided July 25, 1980.

Attorney(s) appearing for the Case

Jack L. Block, Sachnoff, Schrager, Jones, Weaver & Rubenstein, Chicago, Ill., argued, for appellants; Lowell E. Sachnoff, Chicago, Ill., and John L. Davidson, Jr., Greenfield, Davidson, Mandelstamm & Voorhees, St. Louis, Mo., on brief.

Thomas L. Croft, Coburn, Croft, Shepherd & Putzell, and Michael A. Fisher, Guilfoil, Symington, Petzall & Shoemake, St. Louis, Mo., argued, for appellees; Jim J. Shoemake and Michael A. Fisher, St. Louis, Mo., on brief for Midwest Rubber Reclaiming Co.

Thomas L. Croft and Kenneth W. Bean, St. Louis, Mo., on brief for Midcon Industries et al.

Before HEANEY, BRIGHT and ROSS, Circuit Judges.

BRIGHT, Circuit Judge.

Alvin J. Shapiro and Jeanne K. Shapiro, former shareholders of Midwest Rubber Reclaiming Company (Midwest), brought this action against Midwest, Midcon Industries, Inc. (Midcon), and certain of their officers and directors, alleging numerous violations of the federal securities statutes and state and common law. Having already dismissed several of these claims, the district court1 granted summary judgment as to the...

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