EUGENE A. WRIGHT, Circuit Judge:
Admiralty Fund alleged in Count 8 of its second amended cross-claims that John Rawlings and Jerome Randolph defrauded the Funds through a series of purchases of HMO International, Inc. stock and resales to Admiralty Fund. The transfers were effected through Rawlings' agency account at City National Bank (hereinafter CNB).
The district court dismissed the action with prejudice under Fed.R.Civ.P. 12(b)(6). The issue is whether...
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