Pfohl v. Pelican Landing

MEMORANDUM OPINION AND ORDER

SHADUR, District Judge.

Roger Pfohl (“Pfohl”) sues Pelican Landing, an Illinois general partnership (“Pelican”) and four of its partners, 1 alleging violations of:

1. Section 10(b) of the Securities Exchange Act of 1934 (the “1934 Act”), 15 U.S.C. § 78j(b), and corresponding SEC Rule 10b-5,17 C.F.R. § 240.10b-5 (Count i);

2. Section 17(a) of the Securities Act of 1933 (the “1933 Act”), 15 U.S.C. § 77q(a) (Count II); 2 and

3. 1933 Act §§ 12(1) and (2), 15 U.S.C. § 77/ (Count III). 3

Defendants have moved in the alternative (1) to dismiss this action for lack of subject…