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R.M. PEREZ & ASSOCIATES, INC. v. WELCH

Nos. 90-3815, 91-3119 and 91-3191.

960 F.2d 534 (1992)

R.M. PEREZ & ASSOCIATES, INC., Plaintiff, v. James WELCH, et al., Defendants. Victoria A. Carleton JOLLEY, et al., Plaintiffs-Appellants, v. PAINE WEBBER JACKSON & CURTIS, INC. and James Welch, Defendants-Appellees. Victoria A. Carleton JOLLEY, et al., Plaintiffs-Appellees, Cross-Appellants, v. PAINE WEBBER JACKSON & CURTIS, INC., Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

As Modified June 17, 1992.

Attorney(s) appearing for the Case

Frank Messengale, Gene W. Lafitte and Marie Breaux Stroud, Liskow & Lewis, New Orleans, La., for Victoria A. Carleton Jolley, et al.

George C. Freeman, III, Phillip A. Wittmann and Stephen H. Kupperman, Stone, Pigman, Walther, Wittmann & Hutchinson, New Orleans, La., for Paine Webber Jackson & Curtis, Inc., et al.

James Welch, pro se.

Before THORNBERRY, KING, and DEMOSS, Circuit Judges.

THORNBERRY, Circuit Judge:

This is an appeal from the final disposition of several consolidated securities fraud cases. The cases against Welch and Paine Webber have been percolating in the federal court system for seven years; only a few isolated issues are presented here for review. We affirm on all issues except the district court's award of attorneys' fees.

I. Background

The plaintiffs are eight customers of James Welch, a former Paine...

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