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BREEN v. CENTEX CORP.

No. 81-1527.

695 F.2d 907 (1983)

John E. BREEN, J.D. Malkemus, R.B. Lewis, J.D. Griffin and Jeannie F. Graham, Plaintiffs-Appellants, v. CENTEX CORPORATION, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

January 20, 1983.

Attorney(s) appearing for the Case

Joel H. Pullen, Daniel Sciano, San Antonio, Tex., for plaintiffs-appellants.

Jenkins & Gilchrist, T. Ray Guy, William D. Sims, Dallas, Tex., for defendant-appellee.

Before THORNBERRY, JOHNSON and HIGGINBOTHAM, Circuit Judges.

JOHNSON, Circuit Judge:

In 1970, appellee Centex Corporation (Centex) acquired Constructional Chemicals, Inc. (CCI) as a wholly owned subsidiary. The acquisition agreement entered into by Centex and CCI provided that CCI stockholders would exchange their stock for Centex stock. Appellants, five CCI stockholders who exchanged their CCI stock for Centex stock, initiated this action alleging that certain misrepresentations made by Centex violated federal and state laws...

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