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FINE v. AMERICAN SOLAR KING CORP.

Nos. 89-1218, 89-1290.

919 F.2d 290 (1990)

Howard FINE, Oakhill South Corporation, Eugene Vanderford, Dr. Charles Yates, and John V. Yates, Plaintiffs-Appellants, v. AMERICAN SOLAR KING CORP., et al., Defendants, Main Hurdman, Defendant-Appellee. James RANDALL, Plaintiff-Appellant, v. Brian D. PARDO, et al., Defendants, Main Hurdman, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

December 4, 1990.

Attorney(s) appearing for the Case

Terrell W. Oxford, Susman, Godfrey & McGowan, Dallas, Tex., Daniel L. Berger, Bernstein, Litowitz, Berger & Grossmann, New York City, for plaintiffs-appellants in 89-1218.

Stephen Rackow Kaye, James F. Parver, Steven Altman, John W. Ritchie, New York City, Marvin S. Sloman, Dallas, Tex., for Hurdman.

Roger W. Kirby, Lubna M. Farugi, Kaufman, Malchman, Kaufmann & Kirby, New York City, Daniel J. Sheehan, Jr., Sheehan, Young, Smith & Culp, Terrell W. Oxford, Susman, Godfrey & McGowan, Dallas, Tex., for plaintiff-appellant in 89-1290.

Before KING, JOHNSON and WILLIAMS, Circuit Judges.

KING, Circuit Judge:

Plaintiffs-appellants (Plaintiffs) allege that the accounting firm of Main Hurdman violated § 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing a materially false and misleading qualified report on American Solar King's (ASK) financial statement for fiscal year 1982. The district court found that the Plaintiffs failed to raise a genuine issue of material...

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