District Court, E.D. New York March 29, 1979, No. 74-C-45 (Sanders v. Faraday Laboratories, Inc.)

BARTELS, District Judge.

On January 8, 1974, plaintiff Stanley Sanders instituted this class action pursuant to Rule 23 of the Federal Rules of Civil Procedure under § 22 of the Securities Act of 1933 (“Act”), 15 U.S.C. § 77v, to enforce a liability created by §§ 11 & 12(2) of the Act, 15 U.S.C. §§ 77k and 111. The gravamen of the complaint against the defendant Faraday Laboratories, Inc.