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KENNECOTT CORP. v. SMITH

No. 80-2696.

637 F.2d 181 (1980)

KENNECOTT CORPORATION and KC Development Inc., Plaintiffs-Appellants, v. SMITH, James, Chief of the Bureau of Securities in the Division of Consumer Affairs in the Department of Law and Public Safety of the State of New Jersey; John J. Degnan, Attorney General of the State of New Jersey; and Curtiss-Wright Corporation, Defendants-Appellees.

United States Court of Appeals, Third Circuit.

Decided December 17, 1980.

Attorney(s) appearing for the Case

John T. Dolan, Crummy, Del Deo, Dolan & Purcell, Newark, N. J., for defendant-appellee Curtiss-Wright Corp.; Robert B. Mazur (Argued), Wachtell, Lipton, Rosen & Katz, New York City, of counsel.

Ronald S. Blumstein (Argued), Deputy Atty. Gen. of the State of New Jersey, Newark, N. J., for defendants-appellees Smith and Degnan.

Charles H. Hoens, Jr., Lum, Biunno & Tompkins, Newark, N. J., Richard J. Urowsky (Argued), Sullivan & Cromwell, New York City, for plaintiffs-appellants, Kennecott Corp. and KC Development.

Before ADAMS, GARTH and SLOVITER, Circuit Judges.

OPINION OF THE COURT

ADAMS, Circuit Judge.

This appeal from a denial of a motion for a preliminary injunction in a hotly contested tender offer battle presents the important question whether the New Jersey takeover law is preempted by the Williams Act, 15 U.S.C. § 78m(d)-(e), 78n(d)-(f), and SEC Rule 14d-2(b) promulgated thereunder. The issue of federal court deference to state proceedings under the doctrines of Pullman and Younger abstention...

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