Fed. Sec. L. Rep. P 98,721 Securities and Exchange Commission v. The Seaboard Corporation, Etc., Admiralty Fund Admiralty Fund Growth Series Litigation Trust and the Admiralty Fund Insurance Series Litigation Trust, Cross-Claimants/appellants v. Alton Tabor, Cross-Defendant/appellee

677 F.2d 1297 Fed. Sec. L. Rep. P 98,721 SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. The SEABOARD CORPORATION, etc., et al., Defendants. ADMIRALTY FUND; Admiralty Fund Growth Series Litigation Trust and The Admiralty Fund Insurance Series Litigation Trust, Cross-Claimants/Appellants, v. Alton TABOR, Cross-Defendant/Appellee. No. 79-3819. United States Court of Appeals, Ninth Circuit. Argued and Submitted Sept. 8, 1981. Decided May 24, 1982. Stephen H. Marcus, Greenberg, Bernhard, Weiss & Karma, Los Angeles, Cal., for cross-claimants/appellants. Grace M. Mitsuhata, Loo, Merideth & McMillan, Los Angeles, Cal., for cross-defendant/appellee. Appeal from the United States District Court for the Central District of California. Before WRIGHT and WALLACE, Circuit Judges, and EAST, * Senior District Judge. EUGENE A. WRIGHT, Circuit Judge: 1 On this appeal from summary judgment for cross-defendant Alton Tabor, we reverse because we find a material issue of fact regarding Tabor's scienter. FACTUAL BACKGROUND 2 In count five of its second amended cross-claim, Admiralty Fund and Seaboard Leverage Fund (hereinafter "Funds") alleged that Tabor and others engaged in a scheme to…