Fausett v. American Resources Management Corp.
District Court, D. Utah
1Opinion of the Court
MEMORANDUM DECISION
WINDER, District Judge.
On November 1, 2, 7, 8 and 9 of 1979 plaintiff entered into a series of transactions in which he sold short shares of the stock of defendant American Resources Management Corporation (hereinafter referred to as “ARMCOR”). These transactions were made on the over-the-counter market through broker-dealers located in Salt Lake City, Utah. Plaintiff alleges that in October and November of 1979 and continuing to the date of the complaint, ARM-COR and defendants John Does I through X violated the prohibitions of Section 10(b) of the Securities Exchange Act…
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