ELKIND v. LIGGETT & MYERS, INC.

Nos. 811, 812, Dockets 79-7497, 79-7519.

635 F.2d 156 (1980)

Arnold B. ELKIND, Plaintiff-Appellee-Cross-Appellant, v. LIGGETT & MYERS, INC., Defendant-Appellant-Cross-Appellee.

United States Court of Appeals, Second Circuit.

Decided December 4, 1980.


Attorney(s) appearing for the Case

Robert N. Kaplan, New York City (Dale A. Schreiber, James B. Kilsheimer, III, Kaplan, Kilsheimer & Foley, New York City, of counsel), for Arnold B. Elkind.

Donald J. Cohn, New York City (C. Kenneth Shank, Jr., Alan Gabbay, Webster & Sheffield, New York City, of counsel), for Liggett & Myers, Inc.

Before MANSFIELD and NEWMAN, Circuit Judges.


MANSFIELD, Circuit Judge:

This case presents a number of issues arising out of what has become a form of corporate brinkmanship-non-public disclosure of business-related information to financial analysts. The action is a class suit by Arnold B. Elkind on behalf of certain purchasers (more fully described below) of the stock of Liggett & Myers, Inc. (Liggett) against it. They seek damages for alleged failure of its officers to disclose certain material information...

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