Court Opinion

ID: 9467941
Source: CourtListenerOpinion
Date Created: 2023-08-05 02:00:11.886325+00
Date Added: 2024-06-11T17:40:36.111800
License: Public Domain

SNEED, Circuit Judge,
Concurring in Part Only:
I concur in the result reached by the majority. I also concur in that part of the majority opinion that holds that PSE rule XII is inapplicable to De Lancie “because the churning controversy arose from circumstances that occurred before De Lancie became a member, i. e., from October 1976 through December 1978.”
This is sufficient to dispose of this case. It is unnecessary to consider whether the district court’s finding that De Lancie should have known of his claims at the time he joined the PSE is correct and, if so, whether Coenen v. R. W. Pressprich & Co., 453 F.2d 1209 (2d Cir.), cert. denied, 406 U.S. 949, 92 S.Ct. 2045, 32 L.Ed.2d 337 (1972) is controlling. The latter issue particularly is too complex, even when the applicable exchange rule is plainly applicable to disputes arising before the aggrieved party became a member, to be resolved by what at best is obiter dicta. I should think it better to confront this issue only when we must.