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COLAN v. CONTINENTAL TELECOM, INC.

No. 83 Civ. 7304 (EW).

616 F.Supp. 1521 (1985)

David COLAN, Plaintiff, v. CONTINENTAL TELECOM, INC. and Management Assistance, Inc., Defendants.

United States District Court, S.D. of New York.

September 9, 1985.

Attorney(s) appearing for the Case

Milberg, Weiss, Bershad, Specthrie, & Lerach, New York City, Seymour A. Oliff, Chicago, Ill., for plaintiff; Lawrence Milberg, Jeremy Heisler, New York City, of counsel.

Cahill, Gordon & Reindel, New York City, for defendant Continental Telecom, Inc.; Raymond L. Falls, Jr., Charles A. Gilman, Devereux Chatillon, New York City, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

This is an action by plaintiff, a shareholder of Management Assistance Inc. ("MAI") to recover on its behalf, pursuant to § 16(b) of the Securities Exchange Act of 1934,1 short swing profits from defendant Continental Telecom Inc. ("Continental"), allegedly derived from the purchase and sale of MAI stock within a six month period. Prior to the commencement of the action, plaintiff...

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