Hanley v. First Investors Corp.

MEMORANDUM OPINION

COBB, District Judge.

Defendant’s motion for summary judgment is before the court. Defendants present two grounds for their motion. First, defendants assert that the applicable statutes of limitation bar plaintiffs claims. Second, defendants claim that the plaintiff does not present claims for cognizable damages.

FACTS

This lawsuit is an action by nineteen persons who purchased shares in various mutual funds against First Investors Corporation and John Marceaux. Plaintiffs made their investments between 1984 and 1987. 1 First Investors is a national firm which sponsors and…