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SHEARSON LEHMAN HUTTON HOLDINGS v. COATED SALES

No. 88 Civ. 4073 (PNL).

697 F.Supp. 639 (1988)

SHEARSON LEHMAN HUTTON HOLDINGS INC., Plaintiff, v. COATED SALES, INC., Defendant.

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

June 15, 1988.

Attorney(s) appearing for the Case

Myerson & Kuhn, New York City (Lloyd S. Clareman, of counsel), for plaintiff.

Coudert Bros., New York City (Edwin S. Matthews, Jr., Carolyn T. Ellis, of counsel), for defendant.

MEMORANDUM AND ORDER

LEVAL, District Judge.

This is a motion for a preliminary injunction brought in great haste to obtain for plaintiff the opportunity to sell 1,400,000 shares of stock posted as collateral for a defaulted loan in a rapidly deteriorating market.

Plaintiff is Shearson Lehman Hutton Holdings Inc. Defendant is Coated Sales, Inc. Shearson loaned money to Michael Weinstein who at the time was Chief Executive Officer of Coated. Weinstein...

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