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FIRST HERITAGE CORP. v. PRESCOTT, BALL & TURBEN

No. 81-1583.

710 F.2d 1205 (1983)

FIRST HERITAGE CORPORATION, Plaintiff-Appellee, v. PRESCOTT, BALL & TURBEN, Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided July 12, 1983.

Attorney(s) appearing for the Case

Robert S. Krause, Dickinson, Wright, Moon, Van Dusen & Freeman, Detroit, Mich., William H. Baughman, Jr. (argued), Squire, Sanders & Dempsey, Cleveland, Ohio, for defendant-appellant.

Kemp, Klein, Endelman & Beer, Raymond L. Morrow, Marvin Horowitz, Southfield, Mich., (argued), for plaintiff-appellee.

Before KRUPANSKY, Circuit Judge, PHILLIPS, Senior Circuit Judge, and HILLMAN, District Judge.

HILLMAN, District Judge.

This is an appeal from a denial without prejudice of a stay pending arbitration in a securities action alleging common law fraud and violations of section 10(b) of the Securities Exchange Act of 1934 (the "1934 Act"), 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated thereunder, 17 C.F.R. § 240.10b-5. Plaintiff-appellee, First Heritage, filed a class action complaint alleging fraud and misrepresentation on the part of defendant-appellant...

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