ZLOTNICK v. TIE COMMUNICATIONS

No. 87-1370.

836 F.2d 818 (1988)

ZLOTNICK, Albert M., individually and on behalf of all others similarly situated, Appellant, v. TIE COMMUNICATIONS & L.W. Kifer.

United States Court of Appeals, Third Circuit.

Decided January 6, 1988.

As Corrected January 14, 1988.


Attorney(s) appearing for the Case

Donald B. Lewis (argued), Philadelphia, Pa., for appellant.

Edward J. Yodowitz (argued), Skadden, Arps, Slate, Meagher & Flom, New York City, and David H. Pittinsky, Dilworth, Paxson, Kalish & Kauffman, Philadelphia, Pa., for appellees.

Before GREENBERG, SCIRICA, and HUNTER, Circuit Judges.


OPINION OF THE COURT

JAMES HUNTER, III, Circuit Judge:

Appellant Albert Zlotnick filed this class action against Appellees TIE Communications, Inc. ("TIE") and L.W. Kifer, alleging violations of §§ 9 and 10(b) of the Securities Exchange Act of 1934 and of the RICO Act. Zlotnick claims that appellees' misrepresentations artificially inflated the price of a stock which he had sold short, causing him to lose...

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