Legal Opinion
Altair Corp. v. Harris
Appellate Court of Illinois
Decided December 2, 1982No. 81—2935Published
1Opinion of the CourtJustice Jiganti
The plaintiffs’ complaint was dismissed by the trial court on the grounds that the Federal court had exclusive jurisdiction over this cause of action. The defendants contend that this is an action under the Securities Exchange Act of 1934 (15 U.S.C.A. sec. 78aa (1981)), which preempts State court action. The plaintiffs claim that this is an action for common law fraud cognizable in a State court.
The plaintiffs are Altair Corporation and Chatham Corporation. Chatham owns more than 50% of Altair. The defendants are Acquisitions-Mergers, Inc. (A-M), and its president, Charles E. Harris. On…
2Cases cited10 opinions
- Pan American Petroleum Corp. v. Superior Court of Del. for New Castle Cty.Supreme Court of the United States · 1961
- Manuel M. Ellis v. Victor Carter, Etc.Court of Appeals for the Ninth Circuit · 1961
- Diamond v. OreamunoNew York Court of Appeals · 1969
- Dale Tile Manufacturing Co. v. HyattSupreme Court of the United States · 1888
- Beury v. BeuryDistrict Court, S.D. West Virginia · 1954
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