STEINER v. SOUTHMARK CORP.

Civ. A. Nos. CA3-89-1387-D, CA3-89-1402-D and CA3-89-1492-D.

734 F.Supp. 269 (1990)

William STEINER, on his own behalf, on behalf of him a class of plaintiffs similarly situated, Plaintiff, v. SOUTHMARK CORPORATION, et al., Defendants. Berenice ABRAMS, et al., Plaintiffs, v. SOUTHMARK CORPORATION, et al., Defendants. Norman SALSITZ, on his own behalf, on behalf of a class of plaintiffs similarly situated, Plaintiff, v. SOUTHMARK CORPORATION, et al., Defendants.

United States District Court, N.D. Texas, Dallas Division.

April 5, 1990.


Attorney(s) appearing for the Case

Terrell W. Oxford of Susman Godfrey, Dallas, Tex., Daniel W. Krasner, Francis M. Gregorek and David P. Brower of Wolf Haldenstein Adler Freeman & Kerz, New York City, Steven J. Toll and Daniel S. Sommers of Cohen, Milstein & Hausfeld, Washington, D.C., and Gary E. Cantor and Larry Deutsch of Berger & Montague, Philadelphia, Pa., for plaintiffs.

Wm. Bruce Hoff, Jr., Robert J. Kriss, Gary A. Isaac and Susan J. Irion of Meyer, Brown & Platt, Chicago, Ill., and Robert W. Coleman and John W. Hicks, Jr. of Baker, Mills & Glast, Dallas, Tex., for defendant Grant Thornton.


FITZWATER, District Judge:

The instant motions to dismiss in these three related securities fraud actions require the court to address recurring questions of Fed.R.Civ.P. 9(b) pleading sufficiency inevitably presented in such actions. The court is also called upon to decide whether plaintiffs have stated claims for relief pursuant to § 11 of the Securities Act of 1933, 15 U.S.C. § 77k, and Texas common law theories.

I

Plaintiffs are purchasers...

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