Legal Opinion
In Re Magic Marker Securities Lit.
District Court, E.D. Pennsylvania
Decided June 25, 1979No. Civ. A. 77-3155PublishedCited by 11 opinions
1Opinion of the Court
MEMORANDUM
LUONGO, District Judge.
Plaintiffs in this securities fraud class action are investors who purchased Magic Marker Corporation common stock during a period of alleged price manipulation. The third consolidated amended complaint alleges that over a period of nearly two years, some forty individuals and corporate defendants took part in a wide-ranging conspiracy to artificially inflate the price of Magic Marker stock. Although plaintiffs assert several bases for liability under the federal securities laws, they rely primarily on the implied private right of action under section 10(b) of…
2Cases cited4 opinions
- Touche Ross & Co. v. RedingtonSupreme Court of the United States · 1979
- Reuben J. Katz, on Behalf of Himself and All Others Similarly Situated v. Carte Blanche CorporationCourt of Appeals for the Third Circuit · 1974
- Herbert Milbert v. Bison Laboratories, Inc., and the Baltimore and Ohio Railroad CompanyCourt of Appeals for the Third Circuit · 1958
- Wolgin v. Magic Marker Corp.District Court, E.D. Pennsylvania · 1979
3Cited by11 opinions
- Fed. Sec. L. Rep. P 98,777, 11 Fed. R. Evid. Serv. 781 Chemetron Corporation, Cross-Appellant v. Business Funds, Inc., Cross-AppelleesCourt of Appeals for the Fifth Circuit · 1982
- McNulty v. Borden, Inc.District Court, E.D. Pennsylvania · 1979
- Orson, Inc. v. Miramax Film Corp.District Court, E.D. Pennsylvania · 1994
- Bank of New York v. HoytDistrict Court, D. Rhode Island · 1985
- Forsyth v. KleindienstDistrict Court, E.D. Pennsylvania · 1982
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