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LIPTON v. DOCUMATION, INC.

No. 83-3126.

734 F.2d 740 (1984)

David A. LIPTON and Sylvia S. Lipton, Plaintiffs-Appellees, v. DOCUMATION, INC., et al., Defendants-Appellants.

United States Court of Appeals, Eleventh Circuit.

Rehearing and Rehearing Denied July 23, 1984.

Attorney(s) appearing for the Case

Charles P. Pillans, Peter D. Webster, Jacksonville, Fla., Anthony J. Costanina, Asst. Gen. Counsel, New York City, for Peat Marwick Mitchell & Co.

Jeffrey B. Rudman, Boston, Mass., Edward M. Waller, Jr., Diana L. Fuller, Tampa, Fla., for Documation, Inc.

R. Lee Bennett, Orlando, Fla., for S. Ray Halbert.

Bernard Bonn, III, Boston, Mass., and Lawrence G. Mathews, Jr., Orlando, Fla., for Richard J. Testa & John H. Holcomb, Jr.

Kenneth A. Plevan, Herbert F. Kozlov, New York City, Davisson F. Dunlap, Orlando, Fla., for Robert S. Ames, James F. Morgan & Textron, Inc.

Robert M. Kornreich, New York City, Richard H. Critchlow, Miami, Fla., for plaintiffs-appellees.

Before KRAVITCH and ANDERSON, Circuit Judges, and TUTTLE, Senior Circuit Judge.

Rehearing and Rehearing En Banc Denied July 23, 1984.

KRAVITCH, Circuit Judge:

The plaintiffs brought this proposed class action on behalf of themselves and other purchasers of Documation, Inc. securities, alleging violations of § 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission rule 10b-5.1 As the basis of their complaint, the plaintiffs rely on what has commonly become known as the "fraud...

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