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This document summarizes a court case regarding Harvey R. Miller, the trustee in bankruptcy of Ira Haupt & Co., suing the New York Produce Exchange and its directors for losses of $12 million sustained by Ira Haupt & Co. during the notorious 1963 salad oil scandal. The trustee alleged the Exchange allowed excessive speculation and failed to close the market promptly. After a six-week trial, the judge directed verdicts in favor of some defendants and the jury found for remaining defendants. On appeal, the co

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