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PANZIRER v. WOLF

No. 10, Docket 80-7827.

663 F.2d 365 (1981)

Zelda L. PANZIRER, Plaintiff-Appellant, v. Emanuel L. WOLF, Jay N. Feldman, C. Ray Holloway, William V. Lurie, Carl Prager, Julio Proietto, Jack M. Sattinger and Price Waterhouse & Co., Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided October 28, 1981.

Rehearing and Rehearing Denied January 28, 1982.

Attorney(s) appearing for the Case

Daniel W. Krasner, New York City (Wolf, Haldenstein, Adler, Freeman & Herz, Fred Taylor Isquith, New York City, of counsel), for plaintiff-appellant.

Bartlett H. McGuire, New York City (Davis, Polk & Wardwell, Ogden N. Lewis, Jamie Stern, Susan P. Johnston, New York City, of counsel), for defendant-appellee Price Waterhouse & Co.

Jacobs, Persinger & Parker, New York City (Irving Parker, Joseph N. Salomon, William H. Lasher, III, New York City, of counsel), for defendants-appellees Wolf, Feldman, Lurie, Prager, Proietto and Sattinger.

Gordon, Hurwitz, Butowsky, Baker, Weitzen, Shalov & Needell, New York City, for defendant-appellee Holloway.

Before LUMBARD and KAUFMAN, Circuit Judges, and PIERCE, District Judge.

Rehearing and Rehearing En Banc Denied January 28, 1982.

LUMBARD, Circuit Judge:

Allied Artists Industries, Inc., issued an allegedly false annual report in August 1978. Zelda Panzirer purchased Allied stock thereafter upon reading an article in The Wall Street Journal. She never saw the annual report. When Allied started bankruptcy proceedings in 1979, she sued Allied officers and Price Waterhouse & Co., Allied...

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