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INDIANA NAT. CORP. v. RICH

No. IP 82-1622-C.

554 F.Supp. 864 (1982)

INDIANA NATIONAL CORPORATION v. Martin D. RICH, et al.

United States District Court, S.D. Indiana, Indianapolis Division.

December 30, 1982.

Attorney(s) appearing for the Case

Barnes & Thornburg, Indianapolis, Ind., Simpson Thacher & Bartlett, New York City by James A. McDermott, Indianapolis, Ind., Ann E. Stanley, Roy L. Reardon, Barry R. Ostrager, New York City, for plaintiff.

McHale, Cook & Welch, Indianapolis, Ind., Friedman & Koven, Chicago, Ill. by William F. Welch, Stephen J. Dutton, Phillip A. Terry, Indianapolis, Ind., Steven L. Bashwiner, H. Nicholas Berberian, Howard D. Lieberman, Chicago, Ill., for defendants.

STECKLER, District Judge.

This case is before the Court on defendants' Fed.R.Civ.P. 12(b) motion to dismiss plaintiff's complaint which seeks to enjoin the defendants from violating Section 13(d) of the Securities Exchange Act of 1934, 15 U.S.C. § 78m(d). The defendants advance two arguments for dismissing this complaint. First, they argue that the plaintiff lacks standing to sue since no private right of action exists in plaintiff's favor under Section 13(d...

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