POINT LANDING, INC. v. OMNI CAPITAL INTERN., LTD.

No. 84-3445.

795 F.2d 415 (1986)

POINT LANDING, INC. and Point Landing Fuel Corp., Plaintiffs-Appellants, v. OMNI CAPITAL INTERNATIONAL, LTD., et al., Defendants-Third Party Plaintiffs-Appellants-Appellees, v. RUDOLF WOLFF & CO., LTD., Defendant-Third Party Defendant-Appellee, and James Gourlay, Third Party Defendant-Appellee. William S. SMITH, Jr., and Ruby M. Smith, Plaintiffs, v. OMNI CAPITAL INTERNATIONAL, LTD., et al., Defendants-Third Party Plaintiffs-Appellants, v. RUDOLF WOLFF & CO., LTD. and James Gourlay, Third Party Defendants-Appellees. Frank J. GEORGE and Brenda A. George, Plaintiffs, v. OMNI CAPITAL INTERNATIONAL, LTD., et al., Defendants-Third Party Plaintiffs-Appellants, v. RUDOLF WOLFF & CO., LTD. and James Gourlay, Third Party Defendants-Appellees. Dennis M. ROSENBERG and Joan Rosenberg, Plaintiffs, v. OMNI CAPITAL INTERNATIONAL, LTD., et al., Defendants-Third Party Plaintiffs-Appellants, v. RUDOLF WOLFF & CO., LTD. and James Gourlay, Third Party Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

As Corrected August 8, 1986.


Attorney(s) appearing for the Case

Robert A. Kutcher, New Orleans, La., for Omni, Friedburg, Stern and Northglen.

Anita M. Warner, New Orleans, La., for Point Landing.

Elliot Paskoff, Townley & Updike, New York City, Dando B. Cellini, New Orleans, La., for Rudolf Wolff Co. Ltd.

Sheldon H. Elsen, Lawrence M. Solan, New York City, Michael S. Fawer, Marie O. Ricco, New Orleans, La., for Gourlay.

Robert B. Bieck, Jr., New Orleans, La., for Barry Minsky.

Leslie E. Smith, Atty., S.E.C., Rosalind C. Cohen, Washington, D.C., for amicus Securities and Exchange Comm.

H. Lowell Brown, Whitney Adams, Kenneth M. Raisler, Commodity Futures Trading Com'n, Washington, D.C., for amicus Commodity Futures Trading Comm.

Before CLARK, Chief Judge, and WISDOM, GEE, RUBIN, REAVLEY, POLITZ, RANDALL, JOHNSON, WILLIAMS, GARWOOD, JOLLY, HIGGINBOTHAM, DAVIS, HILL and JONES, Circuit Judges.


PER CURIAM:

This appeal presents two important issues. First, does the Commodity Exchange Act ("CEA") provide an exclusive cause of action arising out of the commodities futures transactions the plaintiffs engaged in here, preempting claims under federal securities laws? Our answer must be "Yes". The second question arises because of the absence of any provision in the CEA for nationwide service of process such as that which is explicitly stated in the Securities...

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