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IN RE FIDDLER'S WOODS BONDHOLDERS LITIGATION

Civ. A. No. 83-2340.

594 F.Supp. 594 (1984)

In re FIDDLER'S WOODS BONDHOLDERS LITIGATION.

United States District Court, E.D. Pennsylvania.

September 28, 1984.

Attorney(s) appearing for the Case

Lee A. Rosengard, Stradley, Ronan, Stevens & Young, Philadelphia, Pa., for Blyth Eastman Paine Webber, Inc. and Herbert J. Sims & Co., Inc.

Thomas E. Zemaitis, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for The Fidelity Bank.

OPINION

LUONGO, Chief Judge.

This class action litigation arose from the default on $33.1 million in bonds issued to finance the construction of Fiddler's Woods, a life-care facility for elderly Jewish residents of the Philadelphia area. Plaintiffs, bondholders of Fiddler's Woods, have alleged that various participants1 in the project violated the federal securities laws and the common law of Pennsylvania.

Defendants...

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