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IN RE DEL BIAGGIO

No. 13-17500.

834 F.3d 1003 (2016)

IN RE William James DEL BIAGGIO, III, Debtor, Liquidating Trust Committee of the Del Biaggio Liquidating Trust, Plaintiff-Appellee, v. David Freeman, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Filed August 22, 2016.

Attorney(s) appearing for the Case

Merle C. Meyers and Michele Thompson , Meyers Law Group, P.C., San Francisco, California, for Defendant-Appellant.

Michael M. Lauter , Michael H. Ahrens and Steven B. Sacks , Sheppard, Mullin, Richter & Hampton LLP, San Francisco, California, for Plaintiff-Appellee.

Before: Alex Kozinski, John T. Noonan, and Diarmuid F. O'Scannlain, Circuit Judges.

OPINION

A provision of the Bankruptcy Code requires that damages claims arising from the purchase or sale of the security of a debtor be subordinated to other claims senior to or equal to it. We must decide whether such treatment applies where the debtor is an...

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