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WALK-IN MED. CENTER, INC. v. BREUER CAPITAL CORP.

No. 991, Docket 87-7088.

818 F.2d 260 (1987)

WALK-IN MEDICAL CENTERS, INC., Plaintiff-Appellee, v. BREUER CAPITAL CORP., Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided May 5, 1987.

Attorney(s) appearing for the Case

Peter R. Silverman, New York City, N.Y., for defendant-appellant.

Michael S. Press, New York City (Whitman & Ransom, of counsel), for plaintiff-appellee.

Before FEINBERG, Chief Judge, TIMBERS and ALTIMARI, Circuit Judges.

ALTIMARI, Circuit Judge:

In January 1984, appellant Breuer Capital Corp. ("Breuer") executed a firm commitment underwriting agreement, in which Breuer contracted to make a public offering of appellee Walk-In Medical Center's ("Walk-In") stock. Shortly thereafter, Breuer unilaterally terminated the underwriting agreement, claiming that it was justified in doing so because of "adverse market conditions." Following a four-day bench trial, Judge Miriam G. Cedarbaum held...

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