Keers and Company v. American Steel and Pump Corporation

MacMAHON, District Judge.

Defendants move, pursuant to Rules 12(b) (1) and 12(b) (6) of the Federal Rules of Civil Procedure, to dismiss the amended complaint for lack of jurisdiction over the subject matter of this action.

Plaintiffs, minority stockholders of American Steel and Pump Corporation (American), invoke federal jurisdiction under the Securities Acts of 1933 and 1934. They sue on behalf of American and all other stockholders similarly situated to recover money damages for claimed violations of the Acts. 1 2 Juris-diction depends on whether the complaint alleges facts showing a…