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AYERS v. WOLFINBARGER

No. 73-1700.

491 F.2d 8 (1974)

Hoyt AYERS, on behalf of himself, etc., Plaintiffs-Appellees, v. Rick WOLFINBARGER et al., Defendants, Maurice Olen, Crown Services Corporation, United Services Association of Alabama, Inc., Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

Rehearing and Rehearing Denied May 6, 1974.

Attorney(s) appearing for the Case

Morris K. Sirote, Birmingham, Ala., for defendants-appellants.

J. Vernon Patrick, Jr., Marvin Cherner, Birmingham, Ala., for plaintiffs-appellees.

Before BELL, DYER and SIMPSON, Circuit Judges.

Rehearing and Rehearing En Banc Denied May 6, 1974.

DYER, Circuit Judge:

In this derivative and stockholders class action, which sought damages for violations of the federal and state securities laws,1 Crown Services Corporation and United Services Association of Alabama, Inc., two companies controlled by Maurice Olen, were alleged to be underwriters and controlling persons of Diversoco...

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