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WRIGHT v. NATIONAL WARRANTY CO.

No. 90-6467.

953 F.2d 256 (1992)

Robert E. WRIGHT; Barbara J. Wright, Plaintiffs-Appellants, v. NATIONAL WARRANTY COMPANY, L.P.; National Warranty, Inc.; Bumper to Bumper Program, Inc.; AI Automotive Corporation; Rose, Jackson, Brouillette & Shapiro; W. Thomas Boothe; Lee Synnott; Leonard Rose, Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided January 9, 1992.

Attorney(s) appearing for the Case

Gerald A. Smith, Jr., Blackburn, Little, Smith & Slobey, Nashville, Tenn. (argued and briefed), for plaintiffs-appellants Robert E. and Barbara J. Wright.

Frank S. King, Jr. (argued), John H. Yardley (briefed), King & Ballow, Nashville, Tenn., for defendants-appellees Nat. Warranty Co., L.P., Nat. Warranty, Inc., Bumper to Bumper Program, Inc., AI Auto. Corp., Rose, Jackson, Brouillette & Shapiro, W. Thomas Boothe, Lee Synnott and Leonard Rose.

Before NELSON and SUHRHEINRICH, Circuit Judges, and HOLSCHUH, Chief District Judge.

SUHRHEINRICH, Circuit Judge.

Plaintiffs Robert and Barbara Wright appeal from the district court's grant of summary judgment in favor of defendants in this federal securities action. For the reasons that follow, we affirm in part, reverse in part and remand.

I.

This case involves the transaction by which plaintiffs were sold equity interests in defendant National Warranty Company, L.P., ("NWP") and National...

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