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FRIEDMAN v. GANASSI

Nos. 88-3014, 88-3015.

853 F.2d 207 (1988)

Milton FRIEDMAN v. Floyd R. GANASSI, G. Gray Garland, Jr., Stanley B. Scheinman, James W. Cooper, Laidlaw Adams & Peck, Inc., and the Ohio Company, the latter two defendants being sued individually and representatively on behalf of a class of defendants similarly situated, and Arthur Young & Co., partnership. Appeal of LAIDLAW ADAMS & PECK, INC. and The Ohio Company. Appeal of ARTHUR YOUNG & COMPANY.

United States Court of Appeals, Third Circuit.

Decided August 1, 1988.

Rehearing and Rehearing Denied August 26, 1988.

Attorney(s) appearing for the Case

John Matson (argued), New York City, Paul A. Manion, Manion McDonough & Lucas, Pittsburgh, Pa., for Arthur Young & Co.

Dale Hershey, Larry K. Elliott, Eckert Seamans Cherin & Mellott, Pittsburgh, Pa., for Laidlaw Adams & Peck, Inc.

Richard A. Finberg (argued), Berger Kapetan Malakoff & Meyers, P.C., Pittsburgh, Pa., for appellee.

Before STAPLETON, GREENBERG, and HUNTER, Circuit Judges.

Rehearing and Rehearing In Banc Denied August 26, 1988.

OPINION OF THE COURT

STAPLETON, Circuit Judge.

This appeal presents the narrow question whether in suits brought under § 11 of the Securities Act of 1933, 15 U.S.C. § 77k, the taxable costs specified in 28 U.S.C. § 1920 are to be "allowed as of course to the prevailing party" under Fed.R.Civ.P. 54(d) or whether they can be awarded only upon a finding under § 11(e) of the...

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