E. F. HUTTON & CO., INC. v. BERNS

Nos. 81-1426, 81-1470.

682 F.2d 173 (1982)

E. F. HUTTON & COMPANY, INC., Appellee/Cross-Appellant, v. Melford BERNS, and Lenny Garcia, Appellants/Cross-Appellees.

United States Court of Appeals, Eighth Circuit.

Decided June 30, 1982.

Rehearing Denied August 4, 1982.


Attorney(s) appearing for the Case

Irl B. Baris, St. Louis, Mo., for appellants/cross-appellees Berns and Garcia.

Jerome F. Raskas, John C. Garavaglia, St. Louis, Mo., for appellee/cross-appellant E. F. Hutton & Co., Inc.

Before LAY, Chief Judge, ROSS and McMILLIAN, Circuit Judges.


ROSS, Circuit Judge.

Background

For purposes of this appeal only a general review of the events giving rise to this litigation is necessary. Appellants Melford Berns and Lenny Garcia were partners in a business called West County Photo Supply, Inc. During the fall of 1979 the appellants and three other individuals made a series of purchases of Victoria Station stock from the appellee, E. F. Hutton, Inc. (Hutton), through one of Hutton's account executives...

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