Kirk v. First Nat. Bank of Columbus

ORDER DISPOSING OF DEFENDANTS’ SUMMARY JUDGMENT MOTIONS

OWENS, District Judge.

This order disposes of defendants’ motions for summary judgment filed April 15, 1977. Those motions present only three substantial issues, to wit, whether plaintiffs’ 10b-5 count is time barred, whether plaintiffs’ action is barred by the doctrine of res judicata or collateral estoppel, and whether plaintiffs’ count one states a cause of action under Georgia law.

The Facts

In the late 1950’s and early 1960’s, Wright Contracting Company (hereinafter Wright Co.) had a one third interest in Oman-Farnsworth-W right…