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FELDMAN v. SIMKINS INDUSTRIES, INC.

No. 80-4372.

679 F.2d 1299 (1982)

Joseph D. FELDMAN, on behalf of himself and all others similarly situated, Plaintiff-Appellant, v. SIMKINS INDUSTRIES, INC., Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided June 22, 1982.

Attorney(s) appearing for the Case

David B. Gold, David B. Gold, Law Corp., San Francisco, Cal., for plaintiff-appellant.

Paul Rosen, Spector, Cohen, Hunt & Rosen, Philadelphia, Pa., argued, for defendant-appellee; Michael R. Jencks, San Francisco, Cal., on brief.

Before SNEED and TANG, Circuit Judges, and STEPHENS, District Judge.

TANG, Circuit Judge.

This is an appeal from the dismissal by summary judgment and directed verdict against Plaintiffs' claims that Defendant violated federal and state securities laws. We affirm.

FACTS

Between 1974 and 1977 Simkins Industries, Inc. (Simkins) acquired Fibreboard Corporation (Fibreboard) stock representing 14% of Fibreboard's outstanding shares. It paid an average price of approximately $15.25 per share. By late 1977, however, Simkins...

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