Scripps v. Smith, Hague & Co.

MEMORANDUM OPINION AND ORDER

FEIKENS, District Judge.

Plaintiffs, former shareholders of the Evening News Association (ENA), allege that the sale of their stock to defendants was accomplished by fraud and misrepresentation in violation of the securities laws, the Racketeer Influenced and Corrupt Organizations Act (RICO) and state law. Because they allege they were induced to sell their ENA stock at a much lower price than was later paid during a tender offer, plaintiffs sue for damages. Defendants Henry Ansbacher, Inc. and Henry Ansbacher Holdings, Inc. move for summary judgment on grounds that…