Fed. Sec. L. Rep. P 98,722 Securities and Exchange Commission v. The Seaboard Corporation, Etc., Admiralty Fund and Admiralty Fund Growth Series Litigation Trust, Cross-Claimant/appellant v. Hugh Johnson & Company, Inc., Hugh Johnson, Norman Michael Keiser, and Ernst& Ernst, Cross-Defendants/appellees

677 F.2d 1301 Fed. Sec. L. Rep. P 98,722 SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. The SEABOARD CORPORATION, etc., et al., Defendants. ADMIRALTY FUND and Admiralty Fund Growth Series Litigation Trust, Cross-Claimant/Appellant, v. HUGH JOHNSON & COMPANY, INC., Hugh Johnson, Norman Michael Keiser, and Ernst& Ernst, Cross-Defendants/Appellees. Nos. 79-3820, 79-3821. 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 plaintiff. Allen H. Beroza, Hodgson, Russ, Andrews, Woods & Goodyear, Buffalo, N. Y., Joseph J. O'Malley, Paul, Hastings, Janofsky & Walker, Los Angeles, Cal., for cross-defendants/appellees. 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 This is an appeal of summary judgment for cross-defendants Ernst & Ernst, Hugh Johnson & Co., Hugh Johnson, and N. Michael Keiser. Ernst & Ernst and the "Hugh Johnson defendants" (hereinafter HJ) appealed separately. We…