Cole v. Walhout

*887OPINION AND ORDER ON DEFENDANTS’ MOTION FOR DISMISSAL AND/OR SUMMARY JUDGMENT

MILES, Senior District Judge.

Plaintiffs’ claims arise out of the financial difficulties and eventual bankruptcy of Tucker Freight Lines, Inc. (“Tucker”). Plaintiffs are former employees of Tucker who entered into wage deferral contracts to save the company from its eventual demise. They claim that those contracts constitute “securities” within the meaning of the Securities Act of 1933, 15 U.S.C.A. §§ 77a — 77aa (West 1981), and the Securities Exchange Act of 1934, 15 U.S.C.A. §§ 78a — 78kk (West 1981), and allege…