BALLAY v. LEGG MASON WOOD WALKER, INC.

Nos. 90-1412, 90-1427.

925 F.2d 682 (1991)

BALLAY, Stephen J., Bandosz, Albert J., Beebee, Susan, Beebee, Peter C., Behmer, L. Nelson, Behmer, Robert L., Bell, Elizabeth W., Broccolini, Agnes M., Burke, Jr., John J., Zappitelli, Sophie Chelyk and John A., Deal, Richard A., Deal, Jr., William W., Dudugjian, Carl, as Trustee, Espinoza (Schimmel), Bobbi S., Flamm, George S., Flansburg, Frank M., Gallagher, David G. and Jacqueline, Goldman, Arthur S., Gould, Herbert E., Hoover, Robert A., Jacobs, Richard W., Merriken, Charles J. and Phylliss A., Munger, Edith L., Persons, Jr., Oren M., Resnick, Albert, Richter, Ronald and Lynn, Robinson, Edmund H., Smedley, L., as Trustee, Smith, Allen and Christine, Uhrman, Gary H., Weyforth, Philip A., Williamson, Dennis, Zappitelli, Michael J. and Anna O., Zook, Dunwoody, for Zook, Melissa D., and Zook, II, William H.D., and Zook, Suzanne C., Goldfine, Sanford D., Staniskis, Peter v. LEGG MASON WOOD WALKER, INC., Appellant in 90-1412. BALLAY, Stephen J., Bandosz, Albert J., Beebee, Susan, Beebee, Peter C., Behmer, L. Nelson, Behmer, Robert L., Bell, Elizabeth W., Broccolini, Agnes M., Burke, Jr., John J., Zappitelli, Sophie Chelyk and John A., Deal, Richard A., Deal, Jr., William W., Dudugjian, Carl, as Trustee, Espinoza (Schimmel), Bobbi S., Flamm, George S., Flansburg, Frank M., Gallaher, David G. and Jacqueline, Goldman, Arthur S., Gould, Herbert E., Hoover, Robert A., Jacobs, Richard W., Merriken, Charles J. and Phylliss A., Munger, Edith L., Persons, Jr., Oren M., Resnick, Albert, Richter, Ronald and Lynn, Robinson, Edmund H., Smedley, L., as Trustee, Smith, Allen and Christine, Uhrman, Gary H., Weyforth, Philip A., Williamson, Dennis, Zappitelli, Michael J. and Anna O., Zook Dunwoody, for Zook, Melissa D., and Zook, II, William H.D., and Zook, Suzanne C., Goldfine, Sanford D., Staniskis, Peter v. LEGG MASON WOOD WALKER, INC. Appeal of Stephen J. BALLAY, Albert J. Bandosz, Susan Beebee, Peter C. Beebee, Nelson L. Behmer, Robert L. Behmer, Elizabeth W. Bell, Agnes M. Broccolini, John J. Burke, Jr., Sophie Chelyk and John A. Zappitelli, Richard A. Deal, William W. Deal, Jr., Carl Dudugjian, as Trustee, Bobbi S. Espinoza (Schimmel), George G. Flamm, Frank M. Flansburg, David G. and Jacqueline Gallagher, Sanford D. Goldfine, Arthur S. Goldman, Herbert E. Gould, Robert A. Hoover, Richard W. Jacobs, Charles J. and Phylliss A. Merriken, Edith L. Munger, Oren M. Persons, Jr., Albert Resnick, Ronald and Lynn Richter, Edmund H. Robinson, L. Smedley, as Trustee, Allen and Christine Smith, Peter Staniskis, Gary H. Uhrman, Philip A. Weyforth, Dennis Williamson, Michael J. and Anna O. Zappitelli, Dunwoody Zook, for Melissa D. Zook and William H.D. Zook, II, and Suzanne C. Zook, Appellants in 90-1427.

United States Court of Appeals, Third Circuit.

Decided February 15, 1991.

Rehearing and Rehearing Denied March 21, 1991.


Attorney(s) appearing for the Case

William A. DeStefano, Christopher Warren (argued), Conrad, O'Brien, Gellman, DeStefano & Rohn, Stephen M. Feldman, Philadelphia, Pa., for appellees.

C. Clark Hodgson, Jr. (argued), David C. Franceski, Jr., Keith R. Dutill, Stradley, Ronon, Stevens & Young, Philadelphia, Pa., for appellant.

William J. Fitzpatrick, Securities Industry Ass'n, New York City, for amicus-appellant.

Before SLOVITER, Chief Judge, MANSMANN, Circuit Judge, and SAROKIN, District Judge.


Rehearing and Rehearing In Banc Denied March 21, 1991.

OPINION OF THE COURT

MANSMANN, Circuit Judge.

In this lawsuit brought by the named investors against their brokerage firm, Legg Mason Wood Walker, Inc. ("Legg Mason"), for alleged oral misrepresentations made concerning the book value calculation of securities, two issues require resolution in this appeal following a jury trial. The first presents an issue not yet ruled upon by any federal appellate...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases