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NORMAN v. BROWN, TODD & HEYBURN

Civ. A. No. 87-3128-S.

693 F.Supp. 1259 (1988)

Michael E. NORMAN and Angelo Diodati, Plaintiffs, v. BROWN, TODD & HEYBURN, et al., Defendants.

United States District Court, D. Massachusetts.

May 5, 1988.

Attorney(s) appearing for the Case

Erik Lund, Jane E. Sender, Posternak, Blankstein & Lund, Boston, Mass., for plaintiffs.

Francis K. Toto, Carolan, Sullivan & Greeley, Boston, Mass., for defendant Lauxmont Farm.

James J. Clark, pro se.

Robert A. Sherman, Goffin and Krattenmaker, Boston, Mass., for defendant M.B.A. Equity Corp.

James C. Heigham, Ailsa D. Deitemeyer, Choate, Hall and Stewart, Boston, Mass., for defendants Brown, Todd and Heyburn.

MEMORANDUM AND ORDER

SKINNER, District Judge.

This action is brought by two individual plaintiffs who purchased units in Lauxmont Standardbred Broodmares/1982, an equine tax shelter structured as a limited partnership. Plaintiffs allege that defendants grossly inflated the value of horses sold to investors through a series of related party transfers, and misrepresented the tax advantages of the investment, in violation of federal securities laws, the Racketeer...

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