Hoxworth v. Blinder, Robinson & Co.

903 F.2d 186 (3rd Cir. 1990)

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Nature of the Case

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Facts

Ps are a class of investors allegedly defrauded by D in connection with Ps’ purchase and sales of various penny stocks. D is a securities dealer through which P purchased and sold their stock. Blinder (D1) is the president of both D and Blinder International. The preliminary injunction ordered D1 to repatriate some $11 million transferred abroad during the course of litigation. It also prohibited Ds from transferring any funds outside the ordinary course of business and from transferring any funds outside the country without prior approval by the district court. Ds appealed.