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ERNST & CO. v. MARINE MIDLAND BANK, N.A.

No. 95 Civ. 8337 (RWS).

920 F.Supp. 58 (1996)

ERNST & COMPANY, PaineWebber, Inc., and Sharpe Capital, Inc., Plaintiffs, v. MARINE MIDLAND BANK, N.A., Defendant.

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

March 21, 1996.

Attorney(s) appearing for the Case

Salon, Marrow & Dyckman, L.L.P. (Louis J. Maione, of counsel), New York City, for Plaintiffs.

Drinker Biddle & Reath (Andrew C. Kassner, Gary R. Battistoni, Michael W. McTigue, Jr., of counsel), Philadelphia, PA, for Defendant.

OPINION

SWEET, District Judge.

Defendant Marine Midland Bank ("Marine") moves to dismiss the first claim in the complaint filed by Plaintiffs Ernst & Company ("Ernst"), PaineWebber, Inc. ("Paine-Webber") and Sharpe Capital, Inc. ("Sharpe") (collectively the "Plaintiffs") for failure to state a claim under Section 10 and Rule 10b-5 of the Securities Exchange Act of 1934. In addition, Marine moves to dismiss the remaining state claims on the grounds...

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