Gloria K. LEVY, Plaintiff,
v.
FIRST NATIONAL CITY BANK, Chase Manhattan Bank, N. A., Chemical Bank, Bankers Trust Co., First Boston Corp., Merrill Lynch, Pierce, Fenner & Smith, Incorporated, Blyth Eastman Dillon & Co., Inc., Halsey Stuart & Co., Salomon Brothers and S. D. Leidesdorf & Co., Defendants.
BACHE HALSEY STUART INC., Blyth Eastman Dillon & Co., Inc., The First Boston Corporation, Merrill Lynch, Pierce, Fenner & Smith, Inc., Salomon Brothers, First National City Bank, Chase Manhattan Bank, N. A., Chemical Bank and Bankers Trust Co., Third-Party Plaintiffs,
v.
The NEW YORK STATE URBAN DEVELOPMENT CORPORATION, Third-Party Defendant.
Gloria K. LEVY, Plaintiff,
v.
NEW YORK STATE URBAN DEVELOPMENT CORPORATION, Third-Party Defendant.
United States District Court, S. D. New York.https://leagle.com/images/logo.png
January 25, 1980.
January 25, 1980.
Attorney(s) appearing for the Case
Milberg, Weiss, Berhad & Specthrie, Jared Specthrie, New York City, for plaintiff Gloria K. Levy.
Cleary, Gottlieb, Steen & Hamilton, New York City, Edmund H. Kerr, Evan A. Davis, Jonathan I. Blackman, New York City, of counsel, for defendants, Bache Halsey Stuart Shields, Inc., Blyth Eastman Dillon & Co., Inc., The First Boston Corporation, Merrill Lynch, Pierce, Fenner & Smith, Inc. and Salomon Brothers; Edmund H. Kerr, Evan A. Davis, Jonathan I. Blackman, New York City, of counsel.
Cravath, Swaine & Moore, New York City, for defendant Chemical Bank.
Milbank, Tweed, Hadley & McCloy, New York City, for defendant The Chase Manhattan Bank, N.A.
Proskauer, Rose, Goetz & Mendelsohn, New York City, for Ernst & Whinney as Successor to defendant S. D. Leidesdorf & Co.
Shearman & Sterling, New York City, for defendant First Nat. City Bank.
White & Case, New York City, for defendant Bankers Trust Co.
Paul, Weiss, Rifkind, Wharton & Garrison, Robert S. Smith, New York City, for third-party defendant New York State Urban Development Corp.
United States District Court, S. D. New York.
MEMORANDUM AND ORDER
OWEN, District Judge.
Plaintiff instituted this class action against the New York State Urban Development Corporation ("UDC"),1 the commercial banks and brokerage firms that acted as underwriters of the bonds of UDC (the "underwriter defendants") issued on or about September 24, 1974, and against S. D. Leidesdorf and Co., UDC's auditors. The amended complaint alleges violations of § 17(a) of the Securities...
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