FIREMEN'S INS. CO. OF NEWARK, N.J. v. KEATING

Nos. 90 Civ. 1076 (PKL), 90 Civ. 1676 (PKL), 90 Civ. 1677 (PKL), 90 Civ. 1678 (PKL), 90 Civ. 1753 (PKL), 90 Civ. 1754 (PKL), 90 Civ. 1809 (PKL), 90 Civ. 6164 (PKL) and 90 Civ. 6288 (PKL).

753 F.Supp. 1146 (1990)

FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Robert F. KEATING, Ellen N. Keating, Eugene F. Loro and Ruth E. Loro Trust, Ronald D. Mercaldo, Barbara R. Mercaldo, Delores M. O'Gorman, Rae Pyper and John N. Sakellariadis, Defendants. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Ian BROWN, Defendant. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Albert H. STONE and Cynthia A. Stone, Defendants. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Joseph A. HENDRICH, Defendant. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Reva Butler HOFMANN, Defendant. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Warren CHISUM, Defendant. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. SMITH & LEANY PARTNERSHIP, Don Smith and Lynn Leany, Defendants. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Joel C. ALSAKER, Bruce Babcock, Jr., Kenneth G. Braun, Paul F. Depond, Carolina A. Depond, Hassan Fakouraghai, Karen L. Fakouraghai, Robert I. Lewy, Henry K. Lui, John E. Metzger, R. Hamilton Morrison, Patricia Sipl a/k/a Patricia Sipl-Gannon, William J. Gannon, David C. Smith Family Trust, David E. Sponsler, Stanford Builders Supply, Inc., Don R. Wangberg and Bonnie J. Wangberg, Defendants. FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, Plaintiff, v. Edward L. CAHILL, Edward L. Carter, Linda S. Carter, George Chimples, Carl Forsyth, Velma Forsyth, Marc S. Hermelin, Linda Hermelin, David H. Jaffe, Aram H. Keith, Edward S. Kraemer, Richard L. Monteith, Charlotte B. Monteith, Gary S. Nachman, Victor A. Nix, Jr., Ken O'Gorman, Jr., Floyd Stuart Reid, Lawrence S. Rich, William J. Sahl, Mayer A. Sarfan, Sidney M. Seltzer, George W. White and J.P. Wilson, Defendants.

United States District Court, S.D. New York.

December 21, 1990.


Attorney(s) appearing for the Case

Hart & Hume, New York City; Mark S. Gamell, of counsel, for plaintiff.

Beigel & Sandler, New York City; Patricia C. Hayashi, of counsel and Barry H. Hart, Ltd., Phoenix, Ariz. (Barry H. Hart, of counsel), and Kelly & Roth, New York City (William H. Roth, of counsel), for defendants.


ORDER AND OPINION

LEISURE, District Judge:

These nine related actions arise from purchases by defendants of investments in a limited partnership. Plaintiff Firemen's Insurance Company of Newark, New Jersey ("plaintiff" or "Firemen's"), has now moved for an order seeking preliminary injunctive relief. For the reasons stated below, plaintiff's motion is denied.1

BACKGROUND

On November 18, 1985, the promoters of...

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