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WHITE v. SANDERS

No. 79-2149.

650 F.2d 627 (1981)

Ernest H. WHITE and Mary Ellen White, et al., Plaintiffs-Appellants, Cross Appellees, v. Prentice SANDERS (Edna E. Sanders, as Executrix of the Estate of Prentice Sanders, substituted in place and stead of Prentice Sanders, Deceased), Defendant-Appellee, Cross Appellant.

United States Court of Appeals, Fifth Circuit. Unit B

July 13, 1981.

Attorney(s) appearing for the Case

John A. Owens, Barrie Balzli Stokes, Tuscaloosa, Ala., for plaintiffs-appellants, cross-appellees.

Fite, Davis & Fite, James K. Davis, Hamilton, Ala., for defendant-appellee, cross appellant.

Before JONES, FAY and HENDERSON, Circuit Judges.

HENDERSON, Circuit Judge:

On May 24, 1977, Ernest H. White and Mary Ellen White filed a complaint in the United States District Court for the Northern District of Alabama against the appellee, Prentice Sanders, alleging fraud under Alabama law and violations of § 10(b) of the Securities & Exchange Act of 1934, 15 U.S.C.A. § 78j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5. In the following weeks, virtually identical actions were instituted against...

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