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ISQUITH v. MIDDLE SOUTH UTILITIES, INC.

No. 87-3081.

847 F.2d 186 (1988)

Rita ISQUITH for and on Behalf of Fred Taylor ISQUITH, Jr. Under the Uniform Gift to Minors Act on Behalf of Herself and all Other Shareholders of Middle South Utilities, Inc., Similarly Situated, Plaintiff-Appellant, v. MIDDLE SOUTH UTILITIES, INC., et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

June 7, 1988.

Attorney(s) appearing for the Case

Sessions, Fishman, Rosenson, Boisfontaine, Nathan & Winn, Curtis R. Boisfontaine, New Orleans, La., Douglas G. Cole, Richard S. Wayne, Strauss, Troy & Ruehlmann Co., Cincinnati, Ohio, Stephen T. Rodd, Abbey & Ellis, Arthur N. Abbey, New York City, Michael Grant Kohn, Cincinnati, Ohio, for plaintiff-appellant.

Herschel L. Abbott, Jr., Richard J. Tyler, Thomas A. Casey, Jr., David G. Radlauer, Robert B. Bieck, Jr., W.D. Meriwether, Jr., New Orleans, La., Louis H. Willenken, Reid & Priest, New York City, for Middle South Utilities, Inc.

Phelps, Dunbar, Marks, Claverie & Sims, Harry A. Rosenberg, New Orleans, La., Henry Bisgaier, Cahill, Gordon & Reindel, New York City, for Deloitte, et al.

Daniel Lund, Francis P. Accardo, for New Orleans, La., for Morgan Stanley/First Boston/Merrill Lynch.

Before KING and DAVIS, Circuit Judges, and PARKER, District Judge.

KING, Circuit Judge:

Plaintiffs, who purchased common stock of Middle South Utilities, Inc. during the period from March 30, 1983 to August 16, 1985, appeal a summary judgment entered against them in their proposed class action against Middle South, its officers and directors, certain of its subsidiaries, the underwriters of a common stock offering that occurred during that period, and its independent auditors. For the reasons set forth below, we vacate the summary...

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