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Number Price
Date Trans. of Shares Per Share Cost Proceeds
7/29/87 Sale 95 $6.25 -- $595.75
9/16/87 Purchase 5,000 9.00 $45,000 --
9/30/87 Purchase 5,000 10.25 51,252 --
11/05/87 Purchase 5,000 10.25 51,252 --
11/20/87 Sale 9,000 4.375 -- 39,364.00
The Steins brought the above suit in their individual
capacities. The trust was not a party to the suit, and no
mention is made therein of Broadcort's or Steinberg &
Lyman's alleged failure to transfer the 2,000 shares of
Saztec stock to the trust.
Before filing suit, the Steins entered into a
"standstill" agreement with Broadcort and/or Steinberg
& Lyman which purportedly prohibited Broadcort and its
agents from selling the stocks in the Steins' account. The
standstill agreement is not contained in the record of this
case. Apparently, the standstill agreement covered all of
the stock in the Steins' Broadcort account, including the
2,000 shares of Saztec stock that Mr. Stein had allegedly
transferred to the trust. There is no evidence that the
trust was a party to this agreement. The standstill
agreement was backed by a letter of credit in the amount
of $150,000 that Mr. Stein obtained on September 30, 1988,
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