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DES BRISAY v. GOLDFIELD CORP.

No. 78-3221.

637 F.2d 680 (1981)

Richard J. DES BRISAY, representatively and derivatively, on behalf of himself, Etc., et al., Plaintiffs-Appellants, v. The GOLDFIELD CORPORATION and Goldfield Lumber Enterprises, Ltd., Defendants-Appellees. and Harold Sigurdson, as Liquidator for C.P.H.C. Holding Company, Ltd., and C.P.H.C. Holding Company, Ltd., Defendants.

United States Court of Appeals, Ninth Circuit.

Decided January 23, 1981.

Attorney(s) appearing for the Case

Michael S. Hayes, Jennings P. Felix, Seattle, Wash., for plaintiffs-appellants.

William A. Gould, Seattle, Wash., argued, M. Margaret McKeown, Seattle, Wash., on brief, for defendants-appellees.

Before SNEED and ANDERSON, Circuit Judges, and EAST, District Judge.

EAST, District Judge:

Des Brisay, on behalf of shareholders in an alleged federal securities fraud and pendent breach of contract action, appeals the District Court's dismissal of the action, with prejudice, as time barred. We note jurisdiction and affirm.

FACTS

In 1969, Canadian Plywood Corporation, Ltd. (Plywood) was on the verge of bankruptcy. It agreed to be wholly acquired by the Goldfield Corporation (Goldfield) via an exchange of stock...

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