Vernon v. Drexel Burnham & Co.

Opinion

HANSON, J.

The Case

On November. 19, 1973, Attorneys Richard P. Rich and Mitchel J. Ezer “on behalf of themselves and all other persons similarly situated,” as plaintiffs and attorneys of record for plaintiff-respondent, filed an action entitled, “Complaint Class Action for Fraud and Deceit; Money Had and Received; Usury” (superior court case No. CA-000084). Named as one of the defendants was Drexel Burnham & Co., Incorporated, formerly known as Burnham & Co., Inc., a corporation, appellant herein (hereinafter Drexel Burnham), along with 24 other corporations and 500 Does. The action…