STINSON v. VAN VALLEY DEVELOPMENT CORP.

Civ. A. No. 87-7922.

714 F.Supp. 132 (1989)

Gilda STINSON and Robert T. Stinson v. VAN VALLEY DEVELOPMENT CORPORATION, Richard Liddell, James L. Hutson, Miller & Schroeder Municipals, Inc., Laventhol & Horwath.

United States District Court, E.D. Pennsylvania.

May 19, 1989.


Attorney(s) appearing for the Case

Mitchell A. Kramer and Larry M. Keller, Philadelphia, Pa., and Robert D. Greenbaum, for plaintiffs.

Douglas Eason, Fuller Tubb & Pomeroy, Oklahoma City, Ok., for Richard Liddell.

David Pittinsky and Lawrence Berger, Philadelphia, Pa., for Laventhol & Horwath.

Alexander Kerr, Hoyle, Morris & Kerr, Philadelphia, Pa., and W. Michael Drake, Judith A. Rogosheske and Rebecca E. Bender, Drake & Rogosheske, Minneapolis, Minn., pro hac vice, for Miller & Schroeder Municipals, Inc.

Stacey L. Schwartz and Philip L. Blackman, Philadelphia, Pa., and Loutitia Denison Eason, Lawrence Ellis & Harmon, Oklahoma City, Okl., pro hac vice, for James L. Hutson.


MEMORANDUM AND ORDER

HANNUM, Senior District Judge.

Plaintiffs Gilda Stinson and Robert Stinson ("Stinsons") allege that they and the class they seek to represent were defrauded in their purchase of Copper Lake Manor revenue bonds. The Stinsons seek application of the fraud-on-the-undeveloped-market theory to show reliance under section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b),1 and Securities and...

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