Fischman v. Raytheon Mfg. Co.
Court of Appeals for the Second Circuit
The defendants filed a motion for dismissal of the complaint and for other relief. In connection with that motion, both defendants and plaintiffs filed affidavits.
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The defendants filed a motion for dismissal of the complaint and for other relief. In connection with that motion, both defendants and plaintiffs filed affidavits. In the affidavits filed by plaintiffs it is stated, inter alia, that certain items in the prospectus, and in a statement filed with the Chicago Stock Exchange and the New York Curb Exchange, “were wilfully and knowingly misleading, false and omitted material disclosures by defendants in violation of the Securities Act of 1933 and 1934”; that the defendants embarked “upon a pattern of manipulation to effect this concealment”; and…
1Opinion of the Court
FRANK, Circuit Judge.
As we understand the preferred stockholders’ position, they are content to rest their claim on the first cause of action and pursuant to Section 11 of the 1933 Act. They complain merely of that part of the order requiring security as a condition of their' repleading to allege facts showing that the statute of limitations had not run. The common stockholders do not complain of the dismissal of the first cause of action as to them, nor do they contend that the second cause of action should not be amended to allege the use of the mails or some means or instrumentality of…
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