GERALD D. MIRKIN et al., Plaintiffs and Appellants,
v.
FRED W. WASSERMAN et al., Defendants and Respondents.
Supreme Court of California.https://leagle.com/images/logo.png
September 9, 1993.
September 9, 1993.
Attorney(s) appearing for the Case
COUNSEL
Milberg, Weiss, Bershad, Specthrie & Lerach, William S. Lerach, Erick A. Isaacson, Blake M. Harper, Helen J. Hodges, Leonard B. Simon, Barrack, Rodos & Bacine, Edward M. Gergosian, Thomas M. Wilson, Leonard Barrack, Wolf, Haldenstein, Adler, Freeman & Herz, Daniel W. Krasner, Jeffrey G. Smith, Francis M. Gregorek, Wechsler, Skirnick, Harwood, Halebian & Feffer, Stuart D. Wechsler, Kohn, Savett, Klein & Graf, Savett, Frutkin, Podell & Ryan, Stuart Savett, Diane Nast, Barbara Podell and Alvin Ivers for Plaintiffs and Appellants.
Daniel E. Lungren, Attorney General, Susan E. Henrichsen, Deputy Attorney General, David B. Gold, Paul F. Bennett, Steven O. Sidener, Jonathan W. Cuneo, Dan McCorquodale, Greenfield & Chimicles and Brenda M. Nelson as Amici Curiae on behalf of Plaintiffs and Appellants.
Paul, Hastings, Janofsky & Walker, Orrick, Herrington & Sutcliffe, William B. Campbell, Todd E. Gordinier, Elizabeth W. Sachs, Bruce D. Ryan, Maryanne B. Haller, C. Dana Hobart, Ernst & Young, Carl D. Liggio, Richard W. McLaren, Jr., Kathryn A. Oberly, Nagler & Schneider, Nagler & Rebhuhn, Lawrence H. Nagler, Larry Goldberg, Harry Rebhuhn, Dennis Berkbigler, Irell & Manella, Morgan Chu, Marjorie Nieset Neufeld, Gibson, Dunn & Crutcher, Richard P. Levy, Donald J. Schmid, Cooper & Dempsey, Michael D. Dempsey, Stephen C. Johnson and Robert D. Donaldson for Defendants and Respondents.
Peter D. Zeughauser, Fred Main, Luce, Forward, Hamilton & Scripps, Charles A. Bird, Charles A. Danaher, Pettit & Martin, John L. Boos, Dennis P. Scott, Orrick, Herrington & Sutcliffe, W. Reece Bader, Barbara Moses, Robert S. Miller, Kindel & Anderson, Robert K. Baker, Dale S. Fischer, Louis W. Karlin, Fried, Frank, Harris, Shriver & Jacobson, Molly Munger, Cooley, Godward, Castro, Huddleson & Tatum, Patrick J. Mahoney, Ray M. Aragon, Gwen C. Mathewson and Joseph A. Grundfest as Amici Curiae on behalf of Defendants and Respondents.
Supreme Court of California.
OPINION
PANELLI, J.
We granted review to determine whether plaintiffs, who purchased securities at a price allegedly affected by misrepresentations, can plead a cause of action for deceit under Civil Code sections 1709 and 1710 without alleging that they actually relied on the misrepresentations. We hold that plaintiffs may not do so.
I. FACTS
This case, which comes to us after the superior court sustained...
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