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SEYMOUR v. SUMMA VISTA CINEMA, INC.

Nos. 85-6278, 85-6307.

809 F.2d 1385 (1987)

Muriel B. SEYMOUR and David Seymour, Plaintiffs-Appellees-Cross-Appellants, v. SUMMA VISTA CINEMA, INC., et al., Defendants-Appellants-Cross-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided February 6, 1987.

Attorney(s) appearing for the Case

Richard A. Love, Santa Monica, Cal., for plaintiffs-appellees-cross-appellants.

Robert A. Holtzman, Los Angeles, Cal., for defendants-appellants-cross-appellees.

Before WALLACE, BOOCHEVER and KOZINSKI, Circuit Judges.

KOZINSKI, Circuit Judge:

Facts

Appellees, Muriel B. Seymour and her son David Seymour, sued a variety of defendants for securities fraud in connection with the purchase of stock in Summa Vista Cinema, Inc. (Summa Vista). Claiming violations of federal securities law and common law fraud, they sought compensatory and punitive damages. The Seymours took a default judgment against J.R. Shestak III, the broker who actually induced the purchase, and entered into...

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