Bache & Co., Inc. v. William J. Taylor, Jr.

Plaintiff, BACHE & CO., instituted this action in June of 1970 in a federal district court in Miami, Florida, against defendants, William J. Taylor, Jr., C. Sue Burnstein, and Kenneth Burn-stein, seeking recovery upon a promissory note and compensatory and punitive damages for common law fraud and for alleged violations of federal and state securities fraud statutes. Pursuant to Rule 37 of the Federal Rules of Civil Procedure, the district court entered default judgments against all of the defendants because of their willful disobedience of the district court’s orders. Judgment was entered in…