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HARRISON v. EQUITABLE LIFE ASSUR. SOC. OF U. S.

No. G75-437 C.A.

435 F.Supp. 281 (1977)

Elizabeth HARRISON, Margaret Witkop and Lucille O'Rourke, Plaintiffs, v. The EQUITABLE LIFE ASSURANCE SOCIETY OF the UNITED STATES, a New York Corporation, Frederick Scott, Kenneth Scholten, Melvin King and George DeVries, Defendants.

United States District Court, W. D. Michigan, S. D.

August 8, 1977.

Attorney(s) appearing for the Case

Burr, VanHattum & Hickman, Grand Rapids, Mich., for plaintiffs; Walter L. Harrison, Grand Rapids, Mich., of counsel.

Roach, Twohey, Maggini & Brady, Grand Rapids, Mich., for defendant Scott; Edward L. Twohey, Grand Rapids, Mich., of counsel.

Donald R. Worsfold, Grand Rapids, Mich., for defendants Scholten and DeVries.

OPINION

FOX, Chief Judge.

I.

Plaintiffs Elizabeth Harrison, Margaret Witkop, and Lucille O'Rourke bring this action under 15 U.S.C. § 78j(b), a provision of what is commonly known as the Securities Exchange Act of 1934. Specifically, plaintiffs allege a Rule 10b-5 violation (SEC rules; also 17 C.F.R. § 240.10b-5), involving a fraudulent sale of securities. Jurisdiction is claimed under 15 U.S.C. § 78aa.

The complaint is very...

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