SAM WONG & SON, INC., a Corporation, on behalf of itself and all others similarly situated, Plaintiffs-Appellants,
v.
NEW YORK MERCANTILE EXCHANGE; Richard B. Levine; Howard Gabler; Melvyn Falis; Jayne Ball; Alfred S. Pennisi; Peter Johnston; Michel Marks; Victor Buccellato; Salvatore Calcaterra; Horace De Podwin; Sam Fishberg; Richard Jarecki; Stanley Meierfeld; Charles Miller; Henry Polan; Jack Schwager; Ira Shein; Jacob Stern; Dennis Suskind; Sol Tanne; Harvey Wachman; Norton Waltuck; Joe Doe; Jane Roe; Richard Coe; Mary Smith; ABC, Inc.; DEF, Inc.; GHI, Inc.; JKL, Inc.; MNO, Inc.; and PQR, Inc. (the last ten names being fictitious), Defendants-Appellees.
Anthony SPINALE, Plaintiff-Appellant,
v.
NEW YORK MERCANTILE EXCHANGE, Michel Marks, Dennis Suskind, Sal Calcaterra, Norton Waltuck, George Gero, Stanley Meierfeld, Horace De Podwin, Jack Schwager, Sam Fishberg, Ira Shein, Jack Place, Harvey Wachman, and Charles Miller, Defendants-Appellees.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued March 12, 1984.
Decided May 11, 1984.
Attorney(s) appearing for the Case
Wayne D. Greenstone, Greenstone & Greenstone, P.A., and Kirsten, Friedman & Cherin, Newark, N.J., for plaintiff-appellant Sam Wong & Son, Inc.
Richard A. Miller, Cadwalader, Wickersham & Taft, and Newman, Tannenbaum, Helpern & Hirschtritt, New York City, for plaintiff-appellant Anthony Spinale.
William E. Hegarty, Henry G. Bisgaier, Peter Leight, Cahill Gordon & Reindel, New York City, and Charles S. Horgan, General Counsel, New York Mercantile Exchange, for defendants-appellees.
Kenneth M. Raisler, Gen. Counsel, Commodity Futures Trading Com'n, Pat G. Nicolette, Deputy Gen. Counsel, Whitney Adams, Deputy Gen. Counsel, Nancy E. Yanofsky, Atty., Washington, D.C., for Commodity Futures Trading Commission, amicus curiae.
Baer Marks & Upham, New York City Mark A. Buckstein, Barry J. Mandel, William A. Brandt, Jr., New York City, of counsel, for Commodity Exchange, Inc., amicus curiae.
Kirkland & Ellis, Chicago, Ill. (John E. Angle, T. Webster Brenner, John H. Stassen, Chicago, Ill., of counsel), for the Board of Trade of the City of Chicago, amicus curiae.
James M. Bruchs, Chicago, Ill., for the MidAmerica Commodity Exchange, amicus curiae.
Dorsey & Whitney, Minneapolis, Minn. (James H. O'Hagan, Minneapolis, Minn., of counsel), for the Minneapolis Grain Exchange, amicus curiae.
Freeman, Freeman & Salzman, P.C., Chicago, Ill. (Jerrold E. Salzman, Lee A. Freeman, Jr., Chicago, Ill., of counsel), for the Chicago Mercantile Exchange, amicus curiae.
Barrett Smith Schapiro Simon & Armstrong, New York City (Edmund R. Schroeder, New York City, of counsel), for Coffee, Sugar & Cocoa Exchange, Inc. and New York Futures Exchange, Inc. amici curiae.
Shughart, Thomson & Kilroy, Overland Park, Kan. (William B. Jensen, Overland Park, Kan., of counsel), for Board of Trade of Kansas City, Missouri, Inc., amicus curiae.
Rein Mound & Cotton, New York City (Maurice Mound, New York City, of counsel), for New York Cotton Exchange, amicus curiae.
Before FRIENDLY, TIMBERS and MESKILL, Circuit Judges.
United States Court of Appeals, Second Circuit.
FRIENDLY, Circuit Judge:
We have here appeals by plaintiffs, Sam Wong & Son, Inc. (Wong) and Anthony Spinale, in two suits in the District Court for the Southern District of New York against the New York Mercantile Exchange (NYME or Exchange), its Board of Governors (the Board), and various NYME officers. Both suits concern action or inaction by the NYME relating to the March, April and May 1979 Maine round white potato futures contracts. After an all night meeting...
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