Falk v. Dempsey-Tegeler & Co‪.‬

BURNS, District Judge. Appellant brought this action against the brokerage firm, as well as some of its directors, officers and employees. He claims he suffered losses of $14,125 in the collapse of the price of a speculative over-the-counter stock purchased through the firm. Appellant alleges, inter alia, securities fraud in violation of Section 10(b) of the Securities and Exchange Act of 1934, 15 U.S.C. § 78j(b), and of Securities and Exchange Commission Rule 10b-5, 17 C.F.R. § 240.10-5. The District Court denied appellant's motion to declare this a class action under Rule 23, F.R.Civ.P.1 On appeal, appellant claims error in the order denying his motion.2 Appellee moves to dismiss the appeal as improper.