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DiVITTORIO v. EQUIDYNE EXTRACTIVE INDUSTRIES, INC.

No. 504, Docket 86-7771.

822 F.2d 1242 (1987)

Vincent DiVITTORIO, Individually, and as Representative of a Class of Investors Who Purchased the Securities of Equidyne Extractive Industries 1979 Petro/Coal Program II, and also Derivatively on behalf of the Aforesaid Partnership, Plaintiff-Appellant, v. EQUIDYNE EXTRACTIVE INDUSTRIES, INC.; Eastern Mining Systems, Inc.; Eastland Drilling Corp.; Eastland Industries, Inc.; Equidyne Corporation; Equidyne Properties, Inc.; Stuart R. Ross; Joel I. Beeler; Peter P.R. Rock; Robert L. Liebmann; Wofsey Certilman Haft and Lebow; Marks Shron and Company; Arnold Gruber, Individually and as a partner of Marks Shron and Company; Inland Drilling Company, Inc.; and Equidyne Extractive Industries 1979 Petro/Coal Program II, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided June 26, 1987.

Attorney(s) appearing for the Case

Curtis V. Trinko, New York City (Kevin J. Yourman, of counsel), for plaintiff-appellant.

Geoffrey W. Heineman, New York City (D'Amato & Lynch, New York City, of counsel), for defendant-appellee Wofsey Certilman Haft and Lebow.

Carolyn H. Henneman, New York City (Scoppetta & Seiff, New York City, of counsel), for defendant-appellee Joel I. Beeler.

Andrew J. Entwistle, New York City (Vincent R. Fontana, Wilson, Elser, Moskowitz, Edelman & Dicker, New York City, of counsel), for defendants-appellees Marks Shron and Co. and Arnold Gruber.

Stuart A. Jackson, New York City, for defendants-appellees Equidyne Extractive Industries, Inc., Eastern Mining Systems, Inc., Eastland Drilling Corp., Eastland Industries, Inc., Equidyne Corporation, Equidyne Properties, Inc., Stuart R. Ross, Peter P.R. Rock, and Equidyne Extractive Industries 1979 Petro/Coal Program II.

Daniel J. Kornstein, New York City (Kornstein Veisz & Wexler, New York City, of counsel), for defendant-appellee Inland Drilling, Co.

Before MANSFIELD, VAN GRAAFEILAND and MAHONEY, Circuit Judges.

MAHONEY, Circuit Judge:

In this action, plaintiff Vincent DiVittorio complains of an alleged fraud in the public solicitation of purchasers of interests in defendant Equidyne Extractive Industries 1979 Petro/Coal Program II, a New York limited partnership (the "Partnership") formed to obtain and exploit various coal properties and oil leases. DiVittorio, suing individually and on behalf of a class of investors, filed an amended complaint on or about January 10, 1986...

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