KLINE v. FIRST WESTERN GOVERNMENT SECURITIES, INC.

Nos. 92-1498, 92-1499.

24 F.3d 480 (1994)

Ernest P. KLINE; Eugene Knopf; Steven R. Wojdak v. FIRST WESTERN GOVERNMENT SECURITIES, INC.; Sidney P. Samuels; Samuels, Kramer and Co.; Arvey, Hodes, Costello and Burman, Ernest P. Kline & Eugene F. Knops, Appellants, in 92-1498, Arvey, Hodes, Costello & Burman, Appellant in 92-1499.

United States Court of Appeals, Third Circuit.

Decided May 2, 1994.

Sur Petition for Rehearing June 2, 1994.


Attorney(s) appearing for the Case

Ronald F. Kidd (argued), Joseph D. Mancano, Teresa N. Cavenagh, Duane, Morris & Heckscher, Philadelphia, PA, for appellants.

First Western Government Securities, Inc., Sidney P. Samuels, San Francisco, CA, for appellees: First Western Government Securities, Inc., Sidney P. Samuels, Samuels, Kramer & Co.

John E. McKeever (argued), Lori S. Cozen, Schnader, Harrison, Segal & Lewis, Philadelphia, PA, for appellee: Arvey, Hodes, Costello & Burman.

Before: GREENBERG, ROTH and LEWIS, Circuit Judges.


OPINION OF THE COURT

ROTH, Circuit Judge:

This appeal arises from a suit alleging, among other things, violations of § 10(b) of the Securities and Exchange Act of 1934, 15 U.S.C. § 78j(b), in connection with plaintiffs' investment in forward contracts through defendant First Western Government Securities ("First Western"). Defendant Arvey, Hodes, Costello & Burman ("Arvey"), a Chicago law firm, issued three opinion letters concerning the tax...

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