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MERF v. ALLISON-WILLIAMS CO.

No. C6-93-844.

508 N.W.2d 805 (1993)

MINNEAPOLIS EMPLOYEES RETIREMENT FUND, et al., Appellants, v. ALLISON-WILLIAMS COMPANY, et al., Respondents.

Court of Appeals of Minnesota.

Review Granted February 1, 1994.

Attorney(s) appearing for the Case

James B. Lynch, J. Thomas Vitt, David A. Ranheim, Dorsey & Whitney, Pillsbury Center South Minneapolis, for Minneapolis Employees Retirement Fund, et al.

Terrence J. Fleming, Randy G. Gullickson, Lindquist & Vennum, Minneapolis, for Allison-Williams Co., et al.

Considered and decided by KLAPHAKE, P.J., and HUSPENI and SCHUMACHER, JJ.

OPINION

SCHUMACHER, Judge.

Appellant Minneapolis Employees Retirement Fund (MERF) sued respondent Allison-Williams Company (Allison-Williams) to recover losses incurred as a result of securities it bought from Allison-Williams. The complaint alleged that Allison-Williams breached a fiduciary duty to MERF, that Allison-Williams was negligent, and that Allison-Williams violated the Minnesota Securities Act (Securities Act) by selling unsuitable investments...

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