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KENNEDY v. TALLANT

No. 78-2167.

710 F.2d 711 (1983)

Allen V. KENNEDY, on behalf of himself and all other persons similarly situated, other than defendants who purchased Class A common stock of Preferred Land Corporation on or after June 23, 1967, and before January 1, 1971, Plaintiff-Appellee, v. Fred C. TALLANT, Sr., William M. Womack, Jr., and C. Jon Erwin, Defendants-Appellants.

United States Court of Appeals, Eleventh Circuit.

July 28, 1983.

Attorney(s) appearing for the Case

E. Lewis Hansen, Atlanta, Ga., C. Patrick Flynn, Nashville, Tenn., Carl T. Shipley, Washington, D.C., for defendants-appellants.

Thomas E. Skinner, Birmingham, Ala., Thomas H. Seymour, Miami, Fla., for plaintiff-appellee.

Before KRAVITCH and HENDERSON, Circuit Judges, and MORGAN, Senior Circuit Judge.

LEWIS R. MORGAN, Senior Circuit Judge:

The District Court for the Southern District of Georgia concluded that appellants Fred C. Tallant, Sr., and William M. Womack, Jr., violated Rule 10b-5, as adopted and promulgated by the Securities Exchange Commission pursuant to Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), in connection with the sale of class A common stock of the Preferred Land Corporation (PLC). This appeal challenges the...

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