Crimmins v. American Stock Exchange, Inc.

Full title: FRANK J. CRIMMINS, PLAINTIFF-APPELLANT, v. AMERICAN STOCK EXCHANGE, INC.…

Court: United States Court of Appeals, Second Circuit

Date published: Oct 8, 1974

503 F.2d 560 (2d Cir. 1974)

Opinion

No. 26, Docket 74-1289.

Argued September 9, 1974.

Decided October 8, 1974.

Donald Stuart Bab, New York City (Seymour Swidler, William J. Burke and Spear Hill, New York City, on the brief), for plaintiff-appellant.

John J. Loflin, New York City (Lord, Day Lord, New York City, on the brief), for defendant-appellee.

Appeal from judgment entered in the Southern District of New York, Morris E. Lasker, District Judge.

Before SMITH, TIMBERS and GURFEIN,^_ Circuit Judges.

_ At the time of oral argument, Judge Gurfein was a District Judge of the United States District Court for the Southern District of New York, sitting by designation.

PER CURIAM:

Frank J. Crimmins, a former registered representative of Walston Co., Inc., which in turn was a member firm of the American Stock Exchange, appeals from a judgment entered December 18, 1973 in the Southern District of New York, Morris E. Lasker, District Judge, denying Crimmins' motion for summary judgment, granting the Exchange's cross-motion for summary judgment and dismissing Crimmins' action to vacate the determination by a disciplinary panel of the American Stock Exchange, acting pursuant to Section 6 of the Securities Exchange Act of 1934, 15 U.S.C. § 78f (1970), which found Crimmins guilty of violations of the Exchange rules in connection with trading in the stock of Four Seasons Nursing Centers of America, Inc., and suspended him for two years.

We have carefully considered each of Crimmins' claims of error and find them to be without merit. We affirm on the comprehensive, well-reasoned opinion of Judge Lasker below. 368 F.Supp. 270 (S.D.N.Y. 1973).

Affirmed.