Feldman

MEMORANDUM OF OPINION AND ORDER

Plaintiff Joseph D. Feldman brought this action against Simkins Industries, Inc. (“Simkins”) and a brokerage house, Bear, Stearns & Co. (“Bear, Stearns”) for violations of § 17(a) of the Securities Act of 1933 (“Securities Act”) (15 U.S.C. § 77q(a)), § 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) (15 U.S.C. 78j) and its implementing Rule 10b-5 ( 17 C.F.R. § 240 .10b-5). Jurisdiction is founded on § 22 of the Securities Act (15 U.S.C. § 77v(a)) and § 27 of the Exchange Act (15 U.S.C. § 78aa). Following a motion for summary judgment, the Court on March 14, 1979, disposed of plaintiff’s claims under §§ 5, 12 of the Securities Act (15 U.S.C. §§ 77e, 77/(1), § 13(d)(2) of the Exchange Act (15 U.S.C. § 78m(d)(2)) and state law. On October 19, 1979, the Court certified the proceeding as a class action brought on behalf of a plaintiff class composed of “[a]ll persons who purchased Fibreboard Corporation common stock from January 26, 1978 through January 31, 1978, inclusive.” The action went to trial before a jury on April 7, 1980; upon completion of plaintiff’s case, the Court advised the parties that it would grant defendants’ motion for…