Investment Research Associates - Page 159




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         Pritzker gave him the copies in the course of Pritzker's                      
         consulting with him regarding the dispute with Weaver.                        
              The letter acknowledging Weaver's prior understanding that               
         he would sell all the stock in KWJ Corp. to Kanter's "client"                 
         (IRA) for $150,000 is dated March 10, 1976.  Kanter admitted that             
         he and Weaver had been discussing the sale for some time before               
         March 10, 1976.  At trial he testified that he did not know                   
         whether it was a few months before or a much longer period of                 
         time.  Kanter testified that "J.D. [Weaver] needed money and was              
         clearly unhappy with what might be the interpretation of the                  
         contract in light of his dispute with Abe [Pritzker], and it led              
         to this letter."                                                              
              We find Kanter's testimony to be implausible.  We find it                
         incredible that an attorney consulting with a very important                  
         client about a contract dispute would surreptitiously negotiate               
         with the other party to the contract to purchase essentially the              
         same contract that was the subject of the dispute and on which                
         the attorney was giving advice.                                               
              We are not convinced that Kanter obtained the copies of                  
         Hyatt's correspondence with Weaver from Pritzker rather than from             
         Weaver.  Kanter was not Hyatt's attorney.  He represented the                 
         Pritzker family, but Hyatt had its own attorneys, including                   
         members of the Pritzker family who themselves were attorneys.                 
         Kanter testified that he had very limited involvement with                    






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