POLICE RETIREMENT SYSTEM v. MIDWEST INV.

Nos. 89-2770EM, 89-3028EM and 90-1743EM.

940 F.2d 351 (1991)

The POLICE RETIREMENT SYSTEM OF ST. LOUIS, a Missouri Statutory Pension Trust, Appellee, v. MIDWEST INVESTMENT ADVISORY SERVICE, INC.; James F. Bridges; The Guaranty Trust Co. of Missouri; Angelo J. Parato; James A. Finch, III; I.M. Simon & Co., Inc.; Thomas D. Pixley; E.F. Hutton & Co., Inc.; Paine, Webber, Jackson & Curtis; Diversified Consultants, Inc.; Donald C. Anton, Appellant, Dotto Enterprises, Inc.; Aurora L. Anton; Walter P. Klein; Anthony D. Daniele; Vining-Sparks Securities, Inc.; U.S.A. Continental Investors Group, Inc. The POLICE RETIREMENT SYSTEM OF ST. LOUIS, a Missouri Statutory Pension Trust, Appellant, v. MIDWEST INVESTMENT ADVISORY SERVICE, INC.; James F. Bridges; Appellees, The Guaranty Trust Co. of Missouri; Angelo J. Parato; James A. Finch, III; I.M. Simon & Co., Inc.; Appellee, Thomas D. Pixley; E.F. Hutton & Co., Inc.; Paine, Webber, Jackson & Curtis; Diversified Consultants, Inc.; Donald C. Anton; Appellees, Dotto Enterprises, Inc.; Aurora L. Anton; Walter P. Klein, Appellee, Anthony D. Daniele; Vining-Sparks Securities, Inc.; U.S.A. Continental Investors Group, Inc. The POLICE RETIREMENT SYSTEM OF ST. LOUIS, a Missouri Statutory Pension Trust, Appellant, v. MIDWEST INVESTMENT ADVISORY SERVICE, INC.; James F. Bridges; Appellees, The Guaranty Trust Co. of Missouri; Angelo J. Parato; James A. Finch, III; I.M. Simon & Co., Inc.; Thomas D. Pixley; E.F. Hutton & Co., Inc.; Paine, Webber, Jackson & Curtis; Appellees, Diversified Consultants, Inc.; Donald C. Anton; Dotto Enterprises, Inc.; Aurora L. Anton; Walter P. Klein; Anthony D. Daniele; Vining-Sparks Securities, Inc.; U.S.A. Continental Investors Group, Inc.

United States Court of Appeals, Eighth Circuit.

Filed August 1, 1991.

Rehearing and Rehearing Denied September 17, 1991.


Attorney(s) appearing for the Case

Andrew F. Puzder, St. Louis, Mo., argued, for appellant; Charles Alan Seigel and Doreen D. Dodson, on brief.

Donald C. Anton, pro se.

Alan E. Popkin, and Byron E. Francis, St. Louis, Mo., argued, for appellee; Michael H. Wetmore, Alan N. Zvibleman, Steven P. Sanders, Jordan B. Cherrick, Andrew B. Mayfield, Michael D. O'Keefe, Gerard K. Sandweg, Jr. and Kenton E. Knickmeyer, on briefs.

Before ARNOLD and FAGG, Circuit Judges, and RE, Chief Judge.


Rehearing and Rehearing En Banc Denied September 17, 1991.

ARNOLD, Circuit Judge.

This consolidated appeal is about the Police Retirement System of St. Louis and the companies chosen to manage that pension fund's assets. The System grew increasingly dissatisfied with some of its investment advisors. Eventually it fired them, and then sued. The complaint alleged a multi-level scheme to defraud the System. An intervening prosecution of some of the named defendants...

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