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SALTZBERG v. TM STERLING/AUSTIN ASSOCIATES, LTD.

No. 90 Civ. 3616 (CSH).

746 F.Supp. 1225 (1990)

David SALTZBERG, Robert G. Culp, III, Sandra Krause, Dennis L. Krause, Dan Shapiro, Carl Resnick, Edah L. Halliday, Alvan L. Schrader, Alfred Gitman, Robert J. Roosenberg, Aaron Boxer, Stephen Ratty, Leonard A. Panzetta, Rolland M. Wilkening, Richard A. Somerby, Elayne Ernstoff and Lawrence Ernstoff, Harakh V. Deohia and Anuja Deohia, James E. Linnell and Patricia A. Linnell, Thomas Cappas and Elizabeth Cappas, Earl Tanner, Fred A. Wittlinger, John R. English, Rolland M. Wilkening, William C. Rousseau, Margaret Rousseau, John and Sarah B. Goodman, Plaintiffs, v. TM STERLING/AUSTIN ASSOCIATES, LTD., Sterling Managers, Inc.; Sterling Partners, II, Ltd.,; the Sterling Group, Inc.; Thomas C. Committee, Jr.; John Draper; LPMC of Jax, Inc.; James H. Winston; and Realty International Corporation, Defendants.

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

October 10, 1990.

Attorney(s) appearing for the Case

Beigel & Sandler (Bijan Amini, of counsel), New York City, for plaintiffs.

Chadbourne & Parke (Donald I. Strauber, of counsel), New York City, for defendants.

MEMORANDUM OPINION AND ORDER

HAIGHT, District Judge:

This is an action under the federal securities laws and civil RICO with pendent common law claims. Plaintiffs are limited partners of a Texas limited partnership which was formed in September 1984 to acquire, develop, operate and manage an apartment complex in Austin, Texas. Defendants comprise the two general partners, their officers, corporations owing the capital stock of the general partners, and a...

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