Fed. Sec. L. Rep. P 94,524 Champion Parts, Inc. v. Oppenheimer & Co. Daniel J. O'Neill and Peter A. Russ

FLAUM, Circuit Judge.

This case involves an attempt by Champion Parts, Inc. (“Champion”) to recover from the defendants the money it expended in a successful attempt to obtain equitable relief against a group of investors. The basis of Champion’s action against the investors was that the investors failed to file proper disclosures under 15 U.S.C. § 78m(d) (1988) (“§ 13(d)”) after they had accumulated greater than 5 percent of Champion’s outstanding stock. The district court in the instant action held that Champion has no common law right to the recovery of its litigation expenses and therefore…