SECURITIES INVESTOR PROTECTION CORP. v. VIGMAN

No. 94-56355.

74 F.3d 932 (1996)

SECURITIES INVESTOR PROTECTION CORPORATION, Plaintiff-Appellant, v. Seymour VIGMAN; Robert G. Holmes, Jr.; Aero Systems, Inc.; Martin Blumenthal; Nettie Vigman; Jay Dash; Harriett Dash, as personal representative of the Estate of Philip Dash; Jack A. Haber; Habers, Inc.; Haberico Inc.; Habers, Inc. Defined Benefit Pension Trust, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided January 23, 1996.


Attorney(s) appearing for the Case

G. Robert Blakey, Notre Dame Law School, Notre Dame, Indiana; Mark Riera, Shepard, Mullin, Richter & Hampton, Los Angeles, California, for plaintiff-appellant.

Jack I. Samet, Baker & Hostetler, Los Angeles, California, for defendant-appellee Robert G. Holmes, Jr.

Steven Gourley, Gourley & Burstein, Los Angeles, California, for defendants-appellees Jack A. Haber, Habers, Inc., Haberico Inc., Habers, Inc. Defined Benefit Pension Trust.

Before: FARRIS and RYMER, Circuit Judges, and SINGLETON, District Judge.


RYMER, Circuit Judge:

This appeal requires us to decide how many bites at the apple the Securities Investor Protection Corporation (SIPC) can take.

Asserting subrogation to the rights of nonpurchasing customers of two failed broker-dealers, SIPC brought securities1 and RICO2 claims against Robert G. Holmes, Jr., and a cast of dozens who were accused of manipulating the stock of companies in which they...

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