REISS v. PAN AMERICAN WORLD AIRWAYS, INC.

No. 1134, Docket 83-7017.

711 F.2d 11 (1983)

Irving REISS, Plaintiff-Appellant, v. PAN AMERICAN WORLD AIRWAYS, INC., Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided June 29, 1983.


Attorney(s) appearing for the Case

Arnold J. Ross, New York City (Goldfeld, Charak & Ross, New York City, of counsel), for plaintiff-appellant.

George Weisz, New York City (Cleary, Gottlieb, Steen & Hamilton, New York City, of counsel), for defendant-appellee.

Before LUMBARD, WINTER and PRATT, Circuit Judges.


WINTER, Circuit Judge:

Irving Reiss appeals from a judgment granting defendant Pan American World Airways, Inc.'s ("Pan Am") motion for summary judgment dismissing his class action complaint. The complaint alleged violations of section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 ("Act"), 15 U.S.C. § 78j(b) (1976), and 17 C.F.R. 240.10b-5 (1982). Plaintiffs, holders of Pan Am convertible debentures which were being called, sold the debentures rather...

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