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AUSTIN v. LOFTSGAARDEN

Nos. 80-1771, 80-1874.

675 F.2d 168 (1982)

Dr. Roger E. AUSTIN, Dr. Thomas W. Anderson, Dr. Myrel A. Neumann and Dr. William C. Randall, Plaintiffs, Appellees and Cross Appellants, v. B. J. LOFTSGAARDEN; Alotel Incorporated, a Minnesota Corporation; M. S. Noah; Lyman H. Coult; Property Development & Research Company, a Minnesota Corporation; and 2361 Building Corporation, a Minnesota Corporation, Defendants, Appellants and Cross Appellees.

United States Court of Appeals, Eighth Circuit.

Decided April 7, 1982.

Rehearing and Rehearing Denied May 11, 1982.

Attorney(s) appearing for the Case

Fredrikson, Byron, Colborn, Bisbee & Hansen, John A. Grimstad, Terrence M. Fruth, Minneapolis, Minn., for Austin, Anderson and Neumann.

O'Connor & Hannan, Robert A. Brunig, Minneapolis, Minn., for Randall.

Meagher, Geer, Markham, Anderson, Adamson, Flaskamp & Brennan, Clyde F. Anderson, Laura S. Underkuffler, Minneapolis, Minn., for defendants, appellants and cross appellees.

Before McMILLIAN and ARNOLD, Circuit Judges, and HANSON, Senior District Judge.

Rehearing and Rehearing En Banc Denied May 11, 1982.

HANSON, Senior District Judge.

Plaintiffs-appellees are four of twenty-two limited partners who invested in a development to build and operate a Ramada Inn motel in Rochester, Minnesota. In the district court they prevailed on various claims that they were defrauded by defendants-appellants B. J. Loftsgaarden and three of his closely-held corporations because of...

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