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LESSNER v. CASEY

Civ. A. No. 86-CV-73442-DT.

681 F.Supp. 415 (1988)

George C. LESSNER and Esther M. Lessner, Plaintiffs, v. E. Paul CASEY and Ex-Cell-O Corporation, Defendants.

United States District Court, E.D. Michigan, S.D.

February 9, 1988.

Attorney(s) appearing for the Case

Todd S. Collins, Philadelphia, Pa., Roger E. Craig, Detroit, Mich., for plaintiffs.

Robert B. Webster, Birmingham, Mich., Marc P. Cherno, New York City, for defendants.

OPINION

DUGGAN, District Judge.

This is a class action suit for violation of federal securities laws. Plaintiffs, former shareholders of Ex-Cell-O Corporation, allege that the defendants fraudulently induced them to sell their Ex-Cell-O stock at an inadequate price. Defendants are Ex-Cell-O Corporation and its former President and Chairman of the Board of Directors, E. Paul Casey. Defendants purchased the shares for $52.50 each, under the terms of its Offer...

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