(DOWNLOAD) "William Z. Salcer v. Envicon Equities Corp." by United States Court of Appeals for the Second Circuit " Book PDF Kindle ePub Free
eBook details
- Title: William Z. Salcer v. Envicon Equities Corp.
- Author : United States Court of Appeals for the Second Circuit
- Release Date : January 19, 1984
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 80 KB
Description
In this action in the Southern District of New York under ? 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. ? 78j(b), and S.E.C. Rule 10(b)5, 17 C.F.R. ? 240.10b-5, plaintiffs seek rescissionary damages for defendants alleged failure to disclose material information relating to a real estate tax shelter in which the plaintiffs invested. Having been granted an interlocutory appeal pursuant to 28 U.S.C. ? 1292(b), defendants challenge the order of Judge Vincent L. Broderick granting plaintiffs motion to strike defendants affirmative defense to the effect that any damages must be reduced by the amount of tax benefits admittedly realized by the plaintiffs. Judge Broderick ruled that the defense was inadequate as a matter of law. We reverse.