District Court, S.D. New York March 11, 1976, 74 Civ. 2475, 74 Civ. 2630 (Seigal v. Merrick)

OPINION ON MOTION TO DISMISS AND FOR OTHER RELIEF

MOTLEY, District Judge.

Defendants have moved to dismiss the complaints in these shareholders’ derivative actions on the ground that 1) they fail to state a claim under the Securities Exchange Act of 1934, and 2) they fail to plead the circumstances constituting the alleged fraud with particularity. Rules 12(b)(6), 9(b), Fed.R.Civ.P.