Opinion · Court of Appeals for the Second Circuit

Globus v. Law Research Service, Inc.

Globus v. L. Rsch. Serv., Inc., 442 F.2d 1346 (2d Cir. 1971)

Type
Opinion
Court
Court of Appeals for the Second Circuit
Jurisdiction
Federal
Date
1971-06-14
Topic
litigation

PER CURIAM: We affirmed in open court Judge Marvin E. Frankel’s award to Blair & Co., Granbery, Marache, Inc. (Blair) of contribution in the amount of one-third each from Law Research Service, Inc. (LRS) and Ellias C. Hoppenfeld (Hop-penfeld), Blair’s co-defendants in an earlier stage of these proceedings.

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10 opinions
GLOBUS v. LAW RESEARCH SERVICE, INC.,442 F.2d 1346(2nd Cir. 1971)
Morton GLOBUS et al., Plaintiffs, v. LAW RESEARCH SERVICE, INC. and Ellias
C. Hoppenfeld, Defendants-Appellants. BLAIR CO., Granbery, Marache,
Incorporated, Defendant-Appellee and Third-Party Plaintiff, v. Paul
WIENER, Third-Party Defendant.
No. 861, Docket 35645.
United States Court of Appeals, Second Circuit.
Argued June 14, 1971.
Decided June 14, 1971.
Appeal from the United States District Court for the Southern District of New York, Marvin E. Frankel, Judge, awarding contribution to Defendant-Appellee arising out of Appellants' and Appellee's joint and several liability for violations of the securities laws.
Alfred S. Julien, New York City (Julien, Glaser Blitz, New York City), for defendants-appellants Law Research Service, Inc. and Ellias C. Hoppenfeld.

Milton Black, New York City (Thomas R. Esposito, Mudge, Rose, Guthrie Alexander, New York City, of counsel), for defendant-appellee.
Before MOORE and KAUFMAN, Circuit Judges, and TIMBERS, District Judge.fn*
PER CURIAM:
We affirmed in open court Judge Marvin E. Frankel's award to Blair Co., Granbery, Marache, Inc. (Blair) of contribution in the amount of one-third each from Law Research Service, Inc. (LRS) and Ellias C. Hoppenfeld (Hoppenfeld), Blair's co-defendants in an earlier stage of these proceedings.

In Globus v. Law Research Service, Inc.,418 F.2d 1276(1969), we affirmed a judgment entered against Blair, LRS, and Hoppenfeld for their joint and several liability pursuant to § 17(a) of the Securities Act of 1933,15 U.S.C. § 77q(a) and § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78j(b) for failing to disclose material facts in connection with a public offering of the stock of LRS.287 F. Supp. 188(D.C. 1968). Blair subsequently satisfied the judgment and by a motion in the district court sought to compel LRS and Hoppenfeld to pay their pro-rata shares of the judgment.

Judge Frankel awarded contribution. We agree with both his result and reasoning and affirm the judgment on the basis of his opinion, reported at318 F. Supp. 955(1970).
  1. Chief Judge of the District of Connecticut, sitting by designation. ↩