Word: suits
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Dates: during 1960-1969
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Brown, his face drawn and nearly milky pale, and Carmichael, in a blue pin-striped suit, led a crowd of 200 junior high and high school youths on a charge from Amsterdam Avenue, through police lines, and onto the besieged campus...
...told you to shave and to cut your hair and to ring doorbells and to listen to him. And you listened to him, and he was all gray hair and a gray suit and you loved him. The Times said it--When things looked worst, he brought you back into the system. Wonderful...
...Parties. The suit was filed by a New York wholesale shoe salesman named Morton Eisen, who felt that he had been charged excessive brokerage fees for odd lots (less than 100 shares) of stock he had bought and sold. Nearly 99% of all U.S. odd-lot transactions go through two Wall Street firms, so Eisen had a convenient target for his suit. The firms were also vulnerable because the Securities and Exchange Commission had disclosed in 1963 that their virtual monopoly on odd-lot trading had led to abuses. Claiming that the abuses amounted to illegal price fixing, Eisen sued...
...spread out the legal costs of the suit, Eisen brought it as a class action on behalf of all investors who have dealt in odd lots between 1960 and 1966 (the period covered by the statute of limitations). Since huge numbers of investors deal in odd lots, the number of potential parties to Eisen's suit was an estimated...
...adequately represent the general cause and that his interests clearly parallel those of the entire class. Eisen's case was the first major Court of Appeals test of the new rules, and the Second Circuit held that the district judge erred in refusing to accept Eisen's suit as a class action. In so doing, the court emphasized that the rules should be interpreted as liberally as possible. If the cause of action is apparently valid, said the court, an effort should be made to avoid throwing out the suit on narrow, technical grounds...