RUDOLPH v. ARTHUR ANDERSEN & CO.

No. 85-5722.

800 F.2d 1040 (1986)

Sidney J. RUDOLPH, individually and on Behalf of all other persons similarly situated, and Joseph D. Decosimo, Trustee in Liquidation of the DeLorean Research Limited Partnership, a Michigan Limited Partnership, Plaintiffs-Appellants, v. ARTHUR ANDERSEN & CO., an Illinois partnership, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

September 29, 1986.


Attorney(s) appearing for the Case

Murray Sams, Jr., Peter J. Yanowitch, Frank D. Newman, Sams & Ward, P.A., Miami, Fla., Sidney Davis, Davis, Markel & Edwards, New York City, for plaintiffs-appellants.

Martin B. Woods, Stearns, Weaver, Miller, Wissler, Alhadeff & Sitterson, Bruce W. Greer, Greer, Homer, Cope & Bonner, P.A., Miami, Fla., James J. Sabella, New York City, for defendant-appellee.

Before VANCE and ANDERSON, Circuit Judges, and PITTMAN, Senior District Judge.


VANCE, Circuit Judge:

The district court dismissed plaintiffs' complaint and denied leave to amend on the ground that neither the complaint before the court nor the proposed amended complaint stated a federal claim. We find the proposed complaint sufficient to state a claim and thus reverse.

I.

This case stems from the travails of auto magnate John DeLorean. When DeLorean's ill-fated sports car production venture collapsed, investors in a limited...

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