Fed. Sec. L. Rep. P 93,948 H. C. Colvin, O. M. Prigmore v. Dempsey-Tegeler & Co., Inc.
Court of Appeals for the Fifth Circuit
1Opinion of the Court
DYER, Circuit Judge:
Between December 19, 1968, and April 16, 1969, the eight plaintiffs purchased a total of 7,900 shares of Erie Technological Products, Inc. stock through the Lubbock, Texas, office of Dempsey-Tegeler & Company, Inc., a broker-dealer in securities. The market price of this stock subsequently dropped substantially and most of the 7,900 shares were sold at a considerable loss. The plaintiffs thereafter brought this suit against Dempsey-Tegeler and three of its employees, claiming that the misrepresentation of certain material facts and the omission of others had caused the…
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