ABRAMS v. OPPENHEIMER GOVERNMENT SECURITIES, INC.

No. 83-1811.

737 F.2d 582 (1984)

Richard N. ABRAMS, Plaintiff-Appellee, v. OPPENHEIMER GOVERNMENT SECURITIES, INC. and James Zurek, Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided May 30, 1984.


Attorney(s) appearing for the Case

James E. Beckley, James E. Beckley & Assoc., P.C., Chicago, Ill., for defendants-appellants.

Richard W. Hillsberg, Tishler & Wald, Ltd., Chicago, Ill., for plaintiff-appellee.

Before CUMMINGS, Chief Judge, PELL and WOOD, Circuit Judges.


CUMMINGS, Chief Judge.

This interlocutory appeal presents the issue of whether a Government National Mortgage Association ("GNMA") forward contract constitutes the purchase and sale of the underlying GNMA security and therefore is regulated by the antifraud provisions of the securities laws, even though the GNMA forward contract itself is not a security as defined by the securities laws. We affirm the district court's holding that the antifraud provisions apply.<...

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