Fed. Sec. L. Rep. P 97,568 Francisco Noa v. Key Futures, Inc.

In this action the appellants (plaintiffs below) charged the defendants with violations of the Securities Act of 1933,15 U.S.C. §§ 77a et seq., and the Securities and Exchange Act of 1934,15 U.S.C. §§ 78a et seq. The district court considered matters outside of the complaint and granted defendants’ motion for summary judgment.

A. Jurisdiction

Before turning to the merits of this appeal, we must first resolve a jurisdictional problem not raised by the parties. The Union Bank and Thomas F. Moore were two of several defendants in this case. As to them a summary judgment was granted on March 30, 1976. A timely notice of appeal was filed by the plaintiffs. That appeal was dismissed by this court because the judgment ran against less than all of the parties and did not contain the certificate required by Fed.R.Civ.P. 54(b). On April 15,1977, the parties filed a stipulation that a judgment identical with the initial judgment, but containing the certification required by rule 54(b), might be entered, and on April 27, 1977, the district court entered the stipulated judgment. The appellants filed a notice of appeal on June 1, 1977, five days beyond the time period provided for in…