Legal Opinion
Stewart A. Smith Corp. Profit Sharing Trust v. Paine, Webber, Jackson & Curtis
District Court, D. Massachusetts
Decided November 12, 1986No. MDL No. 584; Civ. A. No. 86-75-SPublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM AND ORDER ON DEFENDANT PAINE, WEBBER, JACKSON & CURTIS’ MOTION TO DISMISS
SKINNER, District Judge.
Plaintiffs in this securities fraud action seek to recover money lost investing in AZL Resources, Inc. (“AZL”). This action is now before me on defendant Paine Web-ber’s motion to dismiss.
The basic allegations in the complaint are that the individual defendants, as officers and directors of Atlantic Financial Management (“AFM”), (1) fraudulently induced plaintiffs to enter into an agreement by which plaintiffs hired AFM to act as their investment advisor, (2) caused plaintiffs to invest…
2Cases cited4 opinions
- Fed. Sec. L. Rep. P 96,916 Edwards & Hanly v. Wells Fargo Securities Clearance CorporationCourt of Appeals for the Second Circuit · 1979
- Fed. Sec. L. Rep. P 99,111 Richard v. Cleary v. Perfectune, Inc.Court of Appeals for the First Circuit · 1983
- Ross v. BoltonDistrict Court, S.D. New York · 1986
- Hailey v. Yellow Freight System, Inc.District Court, W.D. Missouri · 1984
3Cited by1 opinion
- In Re Atlantic Fin. Mgt., Inc. SEC. LitigationDistrict Court, D. Massachusetts · 1986