Byrnes v. Faulkner, Dawkins & Sullivan

OAKES, Circuit Judge:

These appeals are by would-be sellers of stock from decisions granting one buyer judgment on its “second affirmative defense” to the sellers’ suit for breach of contract and dismissing claims against a secondary buyer for lack of subject matter jurisdiction. The first buyer cross-appeals from a dismissal of its counterclaims for punitive damages and lost profits it would have obtained on a resale of part of the shares agreed to be sold. The principal issue on appeal is whether the United States District Court for the Southern District of New York, Henry F. Werker, Judge,…