ALGERAN, INC. v. ADVANCE ROSS CORP.

Nos. 84-5761, 84-5773.

759 F.2d 1421 (1985)

ALGERAN, INC., Plaintiff-Appellant, v. ADVANCE ROSS CORPORATION, et al., Defendants-Appellees. Stern & Miller, P.C., Davis M. Stern and Andrew S. Pauly, Non-Party Appellants.

United States Court of Appeals, Ninth Circuit.

Decided May 9, 1985.


Attorney(s) appearing for the Case

Kevin M. Brandt, Thomas J. McDermott, Jr., Laurence J. Hutt, James I. Ham, Kadison, Pafaelzer, Woodard Quinn & Rossi, Los Angeles, Cal., for plaintiff-appellant.

Barbara A. Reeves, Donald I. Berger, Los Angeles, Cal., for defendants-appellees.

Before CHAMBERS, BOOCHEVER and BEEZER, Circuit Judges.


CHAMBERS, Circuit Judge:

In late 1982, appellee Advance Ross sold its stock in AMI Industries, Inc., a wholly-owned subsidiary, to appellant Algeran, Inc., taking promissory notes for a portion of the sales price, with the AMI stock pledged as security. Algeran thereafter filed this action in district court claiming damages relating to the stock purchase. Advance Ross counterclaimed.

Discovery was undertaken and by December, 1983, Advance Ross took steps which...

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