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KRIM v. BANCTEXAS GROUP, INC.

No. 92-1208.

989 F.2d 1435 (1993)

Jerry KRIM, on behalf of himself and all others similarly situated, Plaintiff-Appellant, v. BANCTEXAS GROUP, INC., et al., Defendants, BancTexas Group, Inc., Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

May 12, 1993.

Attorney(s) appearing for the Case

Harvey Greenfield, New York City, W.D. Masterson, Kilgore & Kilgore, Dallas, TX, for plaintiff-appellant.

Robert R. Cole, Jr., Gregory A. Harwell, Gardere & Wynne, Dallas, TX, for defendant-appellee.

Before GOLDBERG, SMITH, and EMILIO M. GARZA, Circuit Judges.

GOLDBERG, Circuit Judge:

On July 31, 1987, Jerry Krim purchased 100 shares of common stock in BancTexas Group, Inc. ("BTX"), a company which was in the process of restructuring after significant financial reversals. Krim maintains that his decision to invest in BTX was made in reliance upon a BTX prospectus dated May 13, 1987. The prospectus described in some detail BTX's recent financial reversals and warned that investment in BTX was suitable only for persons who...

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