Jacobs v. Winthrop Financial Associates

MEMORANDUM

YOUNG, Chief Judge.

I. INTRODUCTION

The representative plaintiffs in this putative class action (the “Limited Partners”), bring a multi-count securities complaint against the Managing General Partner and various controlling entities (collectively, ‘Winthrop”) of the Nantucket Island Associates Limited Partnership (the “Partnership”). In addition to assorted state law claims sounding in contract, the Limited Partners allege that Winthrop violated federal securities laws by manipulating a September 1996 offering (the “Prospectus” or the “Offering”) of “Preferred Units” in the…