Fed. Sec. L. Rep. P 99,479 Samuel Mallis and Franklyn B. Kupferman, Cross-Appellants v. Bankers Trust Company, Cross-Appellee

*685LUMBARD, Circuit Judge:

This is the third time that we have been asked to review a judgment of the Southern District of New York in this action brought by plaintiffs Samuel Mallis and Franklyn Kupferman to recover losses suffered as a result of what we have termed on a prior review “a somewhat unusual securities transaction.”1 Mallis v. Bankers Trust Co., 615 F.2d 68, 70 (2d Cir.1980), cert. denied, 449 U.S. 1123, 101 S.Ct. 938, 67 L.Ed.2d 109 (1981). The present appeal arises from the second trial of this case before Judge Carter, after which, on June 7, 1982, the jury awarded the plaintiffs…