In Re Boardwalk Marketplace Securities Litigation

INTERLOCUTORY RULING ON MOTIONS FOR PARTIAL SUMMARY JUDGMENT

EGINTON, District Judge.

This complex litigation arises from the formation and demise of nine limited partnerships organized to redevelop property in Atlantic City, New Jersey. Investors who purchased partnership interests sought tax benefits from their investments. To finance their purchases, the investors executed promissory notes payable to American Funding Limited. With the collapse of the redevelopment scheme, many of the investors ceased making payments on their notes which had been purchased from American Funding by various…