MERCER v. JAFFE, SNIDER, RAITT AND HEUER, P.C.

Nos. G88-380 CA1, G87-56 CA1.

736 F.Supp. 764 (1990)

Harold MERCER, et al., Plaintiffs, v. JAFFE, SNIDER, RAITT AND HEUER, P.C., et al., Defendants. Robert N. SCHRIEMER, et al., Plaintiffs, v. Barton GREENBERG, et al., Defendants.

United States District Court, W.D. Michigan, S.D.

April 30, 1990.


Attorney(s) appearing for the Case

Thomas F. Koernke, Todd Dickinson and James R. Doezema, Tolley, Fisher & Verwys, P.C., and Sharon H. Norris, Norris & Associates, P.C., Grand Rapids, Mich., for plaintiffs.

Morton H. Collins, Collins, Einhorn & Farrell, Southfield, Mich., for Jaffe, Snider, Raitt and Heuer, P.C.

Ronald W. Emery, Asst. Atty. Gen., Tort Defense Div., Lansing, Mich., for Frederick Hoffecker.

John D. Walter, Asst. Atty. Gen., Executive Div., Lansing, Mich., for James Karpen.

Bruce M. Bieneman, Cholette, Perkins & Buchanan, Grand Rapids, Mich., for Ronald M. Barron and Ronald M. Barron & Associates, P.C.

George H. Weller, Asst. Atty. Gen., for the State of Mich.

Annis, Annis & Visser, Comstock Park, Mich., for George J. Yusko.

Erwin A. Rubenstein and Arnold F. Farwell, Southfield, Mich., for Ernst & Co.

Moll Desenberg Bayer & Behrendt by Rodger D. Young, Richard A. Kay and Terrance R. Bacon, Southfield, Mich., for Follmer, Rudzewicz & Co.

Andrew S. Conway, Miro Miro & Weiner, Bloomfield Hills, Mich., for George Hamilton.

Steven L. Schwartz, Farmington Hills, Mich., for Cohen & Leff, P.C.


OPINION ON SUMMARY JUDGMENT MOTIONS

HILLMAN, Chief Judge.

These consolidated actions arise from the so-called Diamond Mortgage Corporation ("Diamond")/A.J. Obie & Associates, Incorporated ("Obie"), mortgage-backed securities fraud. As the court has explained elsewhere in more detail, Diamond, Obie, and Commerce Mortgage Investments, Limited ("CMI") (collectively, "the Diamond entities") were an interrelated group of now-bankrupt corporations controlled...

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