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CORS v. LANGHAM

Civ. A. No. 87-955-A.

683 F.Supp. 1056 (1988)

Allan D. CORS, Plaintiffs, v. Robert S. LANGHAM, et al., Defendants and Third-Party Plaintiffs, v. VINSON & ELKINS, Third-Party Defendant.

United States District Court, E.D. Virginia, Alexandria Division.

April 15, 1988.

Attorney(s) appearing for the Case

Lee Calligaro, Daniel E. Johnson, David G. Baldacci, Calligaro & Mutryn, P.C., Washington D.C., Gary W. Lonergan, Alexandria, Va., for plaintiffs.

Richard S. Vermeire, Edward F. O'Keefe, Moye, Giles, O'Keefe, Vermiere & Gorrell, Denver, Colo., Stephen E. Leach, Zuckerman, Spaeder, Goldstein, Taylor & Kolker, Washington, D.C., for defendants, third-party plaintiffs Langham, Ridgeway Exco, Inc., Ridgeway Exco 1984 Private Program, Ltd. and Taurus Petroleum, Inc.

David G. Fiske, John P. Corrado, Ronald L. Lord, Peter A. Kraus, Hazel, Thomas, Fiske, Beckhorn & Hanes, P.C., Alexandria, Va., for defendant, third-party defendant Vinson & Elkins.

MEMORANDUM OPINION

BRYAN, Chief Judge.

This securities case involves a limited partnership called "Ridgeway Exco 1984 Private Program, Ltd." (Partnership), which was formed to drill oil and sold as a tax shelter. Shares in the partnership were sold pursuant to a Private Placement Memorandum (PPM) that the plaintiffs allege contained misstatements and omissions of fact that rendered the document misleading. The plaintiffs have brought suit alleging violations...

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