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S. E. C. v. SEABOARD CORP.

No. 79-3819.

677 F.2d 1297 (1982)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. The SEABOARD CORPORATION, etc., et al., Defendants. ADMIRALTY FUND; Admiralty Fund Growth Series Litigation Trust and The Admiralty Fund Insurance Series Litigation Trust, Cross-Claimants/Appellants, v. Alton TABOR, Cross-Defendant/Appellee.

United States Court of Appeals, Ninth Circuit.

Decided May 24, 1982.

Attorney(s) appearing for the Case

Stephen H. Marcus, Greenberg, Bernhard, Weiss & Karma, Los Angeles, Cal., for cross-claimants/appellants.

Grace M. Mitsuhata, Loo, Merideth & McMillan, Los Angeles, Cal., for cross-defendant/appellee.

Before WRIGHT and WALLACE, Circuit Judges, and EAST, Senior District Judge.

EUGENE A. WRIGHT, Circuit Judge:

On this appeal from summary judgment for cross-defendant Alton Tabor, we reverse because we find a material issue of fact regarding Tabor's scienter.

FACTUAL BACKGROUND

In count five of its second amended cross-claim, Admiralty Fund and Seaboard Leverage Fund (hereinafter "Funds") alleged that Tabor and others engaged in a scheme to defraud the Funds.

The basic facts are undisputed. In 1971, the president...

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