BECHERER v. MERRILL LYNCH, PIERCE, FENNER & SMITH

No. 89-CV-72502.

809 F.Supp. 1259 (1992)

Richard C. BECHERER, Lawrence Milton Richard, Robert A. Horvath and Shirley L. Horvath, and Henry V. Denolf and Joann L. Denolf, individually, and on Behalf of all others similarly situated, Plaintiffs, v. MERRILL LYNCH, PIERCE, FENNER & SMITH, INCORPORATED, Can-American Corporation, Can-American Realty Corporation, Shelter Seagate Corporation, Garrett G. Carlson, Graham C. Lount, Arni Thorsteinson, Frank Lavin, Martin Cicco, Laventhol & Horwath, Dominion Financial & Investment Corp., n/k/a Trustbank Mortgage Center, Inc., M.A. Mortenson Company, Winsor/Faricy Architects, Inc., and Midwest Title Guarantee Company of Florida, Defendants.

United States District Court, E.D. Michigan, S.D.

Amended Order and Injunction December 17, 1992.


Attorney(s) appearing for the Case

Thomas R. Grady, Grady & Associates, Naples, FL, Bruce E. Gerstein, Garwin, Bronzaft, Gerstein & Fisher, New York City, Eugene A. Spector, Spector & Roseman, P.C., Philadelphia, PA, and Elwood S. Simon, Elwood S. Simon & Associates, Bloomfield Hills, MI, for plaintiffs.

Steve Gaskins, Cosgrove, Flynn, Gaskins & Haskell, Mary Yeager, Faegre & Benson, Sam Kaplan, Kaplan, Strangis & Kaplan, Minneapolis, MN, and Jon B. Gandelot, Gandelot & Dickson, P.C., Detriot, MI, for SSG.

Thomas G. McNeill, Dickinson, Wright, Moon, VanDusen & Freeman, Detroit, MI, for Mortenson.

Jonathan T. Walton, Jr., Clark, Klein & Beaumont, Detroit, MI, for Trustbank.

Douglas G. Graham, Butzel Long, P.C., Detroit, MI, for Merrill Lynch.

Melissa Horne, Kerr, Russell and Weber, Detroit, MI, for Winsor/Faricy.

Frank W. Brochert, Plunkett & Cooney, Detroit, MI, for Midwest Title.

Mark T. Boonstra, Miller, Canfield, Paddock & Stone, Detroit, MI and Howard O. Godnick, Schulte Roth & Zabel, New York City, for Registry Hotel Corp.

Susan LaCava, Madison, WI, for Assoc. of Unit Owners.

Carl H. von Ende, Miller, Canfield, Paddock & Stone, Detroit, MI, for defendants.


OPINION AND ORDER

FEIKENS, District Judge.

This Opinion holds that a group of 298 investors who purchased unit interests in a 474-room resort hotel ("The Registry Hotel") in Naples, Florida (and who began a lawsuit in this court entitled "Richard C. Becherer, Lawrence Milton Richard, Robert A. Horvath and Shirley L. Horvath, and Henry V. Denolf and Joann L. Denolf, individually, and on behalf of all others...

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