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relating to resin prices. He never made a profit in any year
from his investment in Clearwater.
2. David and Deborah B. Alter
Petitioners David and Deborah B. Alter resided in New York,
New York, at the time their petition was filed. David Alter
(Alter) graduated from the Harvard Law School and has been
practicing law since 1950. Alter has been a member of several
law firms since 1954: From 1954 to 1966 he was a partner at the
law firm of Squadron, Alter & Weinrib; from 1966 to 1979 he was a
partner of the law firm of Alter, LeFevre, Raphael & Lowry
(Alter, LeFevre);4 and from 1979 to 1989 he was a partner at the
law firm of Shea & Gould. Alter is a general practitioner with a
concentration in entertainment and labor law. Among the services
he provided to his clients were the preparation and review of
contracts, general tax advice, estate planning, and administering
and maintaining financial records. On occasion, Alter's
entertainment clients asked him to review offering materials for
investment opportunities that they had learned of elsewhere. In
4 Alter, LeFevre underwent several name changes during Alter's
tenure as a partner. Apparently, Alter, LeFevre, Raphael & Lowry
was the name of the firm by 1978. For convenience, references to
"Alter, LeFevre" include its predecessor names while Alter was a
partner.
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