GOLDBERG, Circuit Judge:
Plaintiff-appellant, a minority shareholder in two closely-held corporations, brought this federal securities fraud action in an effort to challenge a corporate reorganization. The district court dismissed his complaint, finding that because the plaintiff was neither a "purchaser" nor a "seller" of securities, he did not have standing to assert a 10b-5 claim. We agree and therefore affirm the dismissal entered below.
I. FACTS AND...
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