Stratton Group, Ltd. v. Sprayregen

OPINION

KEVIN THOMAS DUFFY, District Judge.

This is an action brought by the Stratton Group, Ltd., [hereinafter referred to as “Stratton”], against three officers and/or directors thereof, alleging violations of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated thereunder, as well as claims' of common law fraud, breach of fiduciary, duty and breach of contract.

The facts relevant to this opinion are as follows:

In April of 1970 an agreement was executed between John’s Bargain Stores, as predecessor of the Stratton Group, 1 and N.L.P. Fredi, Inc.,…