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DONOHOE v. CONSOLIDATED OPERATING & PROD. CORP.

No. 91-1970.

982 F.2d 1130 (1992)

Terrence DONOHOE, Bernard Medville, Clarence Drucker, et al., Plaintiffs-Appellants, v. CONSOLIDATED OPERATING & PRODUCTION CORPORATION, Ona Drilling Corporation, Onshore Rig Corporation, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided December 28, 1992.

Attorney(s) appearing for the Case

Herbert Beigel, Bruce M. Rose, Leigh R. Lasky, Norman Rifkind (argued), Beigel & Sandler, Chicago, IL, for plaintiffs-appellants.

Douglas P. Roller (argued), Clifford E. Berman, Susan Clancy Boles, Rooks, Pitts & Poust, Chicago, IL, for defendants-appellees Consolidated Operating & Production Corp., C. Morando Berrettini and Jack Nortman.

Douglas P. Roller, Clifford E. Berman, Rooks, Pitts & Poust, Chicago, IL, for defendants-appellees Ona Drilling Corp., Onshore Rig Corp. and Dennis Bridges.

Before BAUER, Chief Judge, CUDAHY, Circuit Judge, and WOOD, Jr., Senior Circuit Judge.

CUDAHY, Circuit Judge.

This is a familiar tale of an oil-drilling project come to grief. The fifty-four plaintiffs invested in one or more of four limited partnerships that proposed to drill for oil near Corsicana, Texas. The wells turned out to be dry (although they may produce some gas), and the investors are out of pocket. They sued the corporate general partner of the limited partnerships (Consolidated Operating & Production Corp.), the shareholders of the...

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