Northern Trust Co. v. Essaness Theatres Corp.

LA BUY, District Judge.

The above matters have been consolidated for the purposes of defendants’ motions setting up grounds for dismissal and summary judgment which are applicable to both complaints.

The plaintiffs have filed separate complaints alleging an action arising under the Securities Exchange Act of 1934, Section 10(b), 15 U.S.C.A. § 78j(b). It is alleged that pursuant to an agreement of October 20, 1945 the defendant corporation through its president and director, Edwin Silverman, purchased from plaintiff executors and Emil Stem 290 and 250 shares of capital stock, respectively, of…