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STEWART v. RAGLAND

No. 89-16114.

934 F.2d 1033 (1991)

Ronald E. STEWART; John A. Gromala; John E. Donohue; Gerald R. Harland; Keith S. Humphreys; John D. Drake; Tom DuFour; Roger Sohnrey; Oklahoma Energy Investors; S & H Diversified; Sohnrey Bros., Plaintiffs-Appellees, v. James A. RAGLAND, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided May 9, 1991.

As Amended June 13, 1991.

As Amended on Denial of Rehearing and Rehearing August 30, 1991.

Attorney(s) appearing for the Case

Jack R. Durland, Jr., Berry & Durland, Oklahoma City, Okl., for defendant-appellant.

John D. Barr, Marc C. Barulich, Barr, Newlan & Sinclair, Redding, Cal., for plaintiffs-appellees.

Before SNEED, SCHROEDER and CANBY, Circuit Judges.

As Amended on Denial of Rehearing and Rehearing En Banc August 30, 1991.

SNEED, Circuit Judge:

This purports to be a securities fraud case based on a failed oil and gas venture. Defendant James Ragland, president of an Oklahoma oil and gas company, sold working interests in wells to the plaintiffs. Plaintiffs are all friends and associates of each other, many of whom have invested extensively in energy production...

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