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WINN v. SEIDMAN FINANCIAL SERVICES

No. G88-858 CA7.

726 F.Supp. 170 (1989)

William H. WINN, Sr. and June C. Winn, Plaintiffs, v. SEIDMAN FINANCIAL SERVICES, a foreign limited partnership, and Seidman Financial Management, Inc., Defendants.

United States District Court, W.D. Michigan.

March 8, 1989.

Attorney(s) appearing for the Case

Roberts, Betz & Bloss, P.C. by Michael J. Roberts, Michael T. Small, Grand Rapids, Mich., for plaintiffs.

Varnum, Riddering, Schmidt & Howlett by Peter J. Armstrong, Grand Rapids, Mich., for defendants.

OPINION

ENSLEN, District Judge.

The Winns filed this action in the Circuit Court for Wexford County, Michigan on October 26, 1988. Plaintiffs allege that defendants advised them to invest one million ($1,000,000) dollars in a mutual fund offered by Fidelity Investments ("Fidelity"). On several occasions, Mr. Winn contacted defendants stating that he believed the Fidelity shares should be redeemed. Representatives of the defendants advised against redemption...

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