IN RE NAT. SMELTING OF NJ, INC. BONDHOLDERS' LIT.

Civ. A. No. 84-3199.

695 F.Supp. 796 (1988)

In re NATIONAL SMELTING OF NEW JERSEY, INC. BONDHOLDERS' LITIGATION.

United States District Court, D. New Jersey.

September 29, 1988.


Attorney(s) appearing for the Case

Philip B. Seaton, Kozlov, Seaton & Romanini, Cherry Hill, N.J., R. Bruce McNew and Christopher T. Reyna, Greenfield & Chimicles, Haverford, Pa., for plaintiffs.

Andrew J. Karcich, Sherman, Silverstein & Kohl, P.C., Pennsauken, N.J., and Stewart D. Aaron, New York City, for defendant N.L. Industries.


OPINION

GERRY, Chief Judge.

The underlying facts of this case are all too familiar both to parties and to the court and bear but the briefest recitation here. The plaintiff class alleges various violations of federal securities law and state common law in connection with the issuance of some $6.6 million in Industrial Development Bonds. Specifically, plaintiffs' chief claim concerns the purchase by the company who received the bond proceeds (National Smelting...

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