IN RE ATLANTIC FIN. MGT., INC. SEC. LITIGATION

MDL No. 584, Civ. A. No. 86-75-S.

658 F.Supp. 380 (1986)

In re ATLANTIC FINANCIAL MANAGEMENT, INC. SECURITIES LITIGATION. STEWART A. SMITH CORP. PROFIT SHARING TRUST, et al., Plaintiffs, v. PAINE, WEBBER, JACKSON & CURTIS, et al., Defendants.

United States District Court, D. Massachusetts.

November 12, 1986.


Attorney(s) appearing for the Case

R. Joseph O'Rourke, Ryan, Smith & Carbine, Ltd., Rutland, Vt., for plaintiffs.

Thomas D. Edwards, Casner, Edwards & Rosemand, Craig Stewart, Palmer & Dodge, Boston, Mass., for defendants.

Jeffrey B. Rudman, Patrick Reagan, Hale and Dorr, Boston, Mass., for Edward H. Tuton.

Joan Channick, Gaston Snow & Ely Bartlett, Boston, Mass., for Paine, Webber, Jackson & Curtis.

Charles R. Parrott, Sharon R. Burger, Nutter, McClennen & Fish, Boston, Mass., for Steven S. Draizin.


MEMORANDUM AND ORDER ON DEFENDANT PAINE, WEBBER, JACKSON & CURTIS' MOTION TO DISMISS

SKINNER, District Judge.

Plaintiffs in this securities fraud action seek to recover money lost investing in AZL Resources, Inc. ("AZL"). This action is now before me on defendant PaineWebber's motion to dismiss.

The basic allegations in the complaint are that the individual defendants, as officers and directors of Atlantic Financial Management ("AFM"), (1) fraudulently...

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