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IN RE LETTERMAN BROS. ENERGY SECURITIES LITIGATION

No. 85-1446.

799 F.2d 967 (1986)

In re LETTERMAN BROTHERS ENERGY SECURITIES LITIGATION. Donald A. DRAKE, et al., Plaintiffs, v. LETTERMAN TRANSACTION SERVICES, et al., Defendants. LETTERMAN BROTHERS ENERGY PROGRAM, et al., Plaintiffs-Appellants, v. BANCTEXAS DALLAS, N.A., et al., Defendants-Appellees. Richard J. STUART, et al., Plaintiffs, v. LETTERMAN BROTHERS ENERGY, et al., Defendants-Third Party, Plaintiffs-Appellants, v. BANCTEXAS DALLAS, N.A., et al., Third Party Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing and Rehearing Denied October 9, 1986.

Attorney(s) appearing for the Case

William A. Wineberg, Broad, Schulz, Larson & Wineberg, Michael R. Simmonds, San Francisco, Cal., Cullum & DeYoung, Edwin R. DeYoung, Dallas, Tex., for Letterman, etc.

W. Ted Minick, Winstead, McGuire, Sechrest & Minick, David C. Mattka, Ivan M. Scott, Jr., Dallas, Tex., for BancTexas Dallas, N.A. (Formerly NBC).

Before GOLDBERG, WILLIAMS and DAVIS, Circuit Judges.

Rehearing and Rehearing En Banc Denied October 9, 1986.

JERRE S. WILLIAMS, Circuit Judge:

Appellants Letterman Brothers Energy Programs ("Energy Programs"), Letterman Brothers (a California partnership), Bryce L. Letterman, Scott M. Letterman, and Letterman Transaction Services, Inc. (a California corporation) suffered substantial financial losses as a result of investments in oil and gas leases that they entered into with Wells-Battelstein Oil & Gas,...

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