Ernest ROSS, individually and as representative of a bondholder class, Plaintiff-Appellee,
v.
BANK SOUTH, N.A., et al., Defendants,
Alston & Bird, et al., Defendants-Appellants.
George MILLER, Individually and as a representative of a class of bondholders described in the complaint, Plaintiff-Appellee,
v.
Arthur M. RICE, Jr., Defendant,
William V. Weldon, et al., Defendants-Appellants.
Ernest ROSS, individually and as representative of a bondholder class, Plaintiff-Appellant,
v.
BANK SOUTH, N.A., et al., Defendants-Appellees.
George MILLER, individually, and as a representative of a class of bondholders described in the complaint, Plaintiff-Appellant,
v.
Arthur M. RICE, Jr., et al., Defendants-Appellees.
United States Court of Appeals, Eleventh Circuit.https://leagle.com/images/logo.png
February 17, 1988.
February 17, 1988.
Attorney(s) appearing for the Case
William J. Cobb, Kocher, Wilson, Korschun & Cobb, H. Marshall Korschun, Atlanta, Ga., for Jack Hereth.
William H. Mills, Redden, Mills & Clark, L. Drew Redden, Birmingham, Ala., for Weldon, Rogers, Blanton, Lee & Moffett.
Herbert P. Schlanger, Atlanta, Ga., for Alan O. Jones.
Robert Wyeth Lee, Jr., Wininger & Lee, Birmingham, Ala., for R. Davidson.
Kirk M. McAlpin, Jr., Peterson, Young, Self & Asselin, Atlanta, Ga., for Peter Orr and Robinson-Hall.
Michael L. Edwards, Balch & Bingham, Birmingham, Ala., C. William Gladden, Birmingham, Ala., for Laventhol and Horwatch.
R. Alan Stotsenburg, R. Alan Stotsenburg, P.C., David C. Harrison, New York City, for Ross & Miller.
James W. Gewin, Bradley, Arant, Rose & White, Jay St. Clair, Birmingham, Ala., for Alston & Bird, et al.
Fred McCallum, Jr., Lange, Simpson, Robinson & Somerville, John E. Grenier, Charles C. Pinckney, Janet W. Taylor, Sally S. Reilly, Birmingham, Ala., for Arthur Rice.
Stephen E. Hudson, Kilpatrick & Cody, Atlanta, Ga., Debbie W. Harden, Thomas H. Christopher, Jerre B. Swan, Atlanta, Ga., for Bank South.
Charles Cleveland, Cleveland & Cleveland, Robert Wiggins, Gordon, Silberman, Wiggins & Childs, Robert F. Childs, Jr., Birmingham, Ala., for Ross & Miller.
W. Michael Atchison, Starnes & Atchison, Jeff Friedman, Birmingham, Ala., for City of Vestavia Hills.
Michael L. Edwards, Balch & Bingham, Patricia A. McGee, Birmingham, Ala., for Laventhol & Horwath.
Charles C. Pinckney, Lange, Simpson, Robinson & Somerville, Birmingham, Ala., John E. Grenier, Janet W. Taylor, Sally S. Reilly, Birmingham, Ala., for Arthur Rice and John S. Schuler.
Before FAY and CLARK, Circuit Judges, and ALLGOOD, Senior District Judge.
United States Court of Appeals, Eleventh Circuit.
CLARK, Circuit Judge:
Named plaintiffs Ernest Ross and George Miller claim the defendants were involved in a fraudulent scheme to issue unmarketable tax-exempt bonds and that the plaintiffs (and the class they purport to represent) purchased these bonds in reliance on the integrity of the market. They claim the defendants knew the bonds were not properly tax-exempt, that the defendants knew the underlying construction project would not generate sufficient income to...
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