SHELDON COMPANY PROFIT SHARING PLAN AND TRUST, Sheldon Company Defined Benefit Plan and Trust (Terminated); and George Cares, Paul Cares, and Louis Cares, as individuals and as Trustees of both Trusts, Plaintiffs,
v.
Michael K. SMITH, as an individual and as a partner or former partner in Dolinka, Smith & Van Noord, a Michigan partnership; Marvin J. Dolinka, Harold J. Smith, Kenneth Van Noord, Gerald R. Vander Lugt, and Bruce Jelsema, the other partners or former partners in the partnership; Robert W. Baird & Co. Incorporated, a Wisconsin corporation; BMMG Capital Corp., a Michigan corporation; Gregory E.V. Dodgson, John Knight, W.E. Stevenson, James Van Til, Raymond A. Weigell III, D.H. Brush & Associates, an Illinois corporation, Ricky and Susan Kraai, Robert E. Schermer, Sr., Charles Gardiner, Ted Vogt, Daniel H. Brush, Donald Morsink, and Paul Kleinheksel, shareholders, directors, and/or officers of BMMG Capital Corp., and/or Trustees of the Buys-MacGregor, MacNaughton-Greenawalt & Co. Shareholders' Liquidating Trust under Agreement dated June 30, 1988, as amended, Timothy Moore as an individual employed by and registered agent of Robert W. Baird & Co., Inc., Oppenheimer & Co., Inc., a Delaware corporation, and Sheldon Altman, an individual employed by and a registered agent of Oppenheimer & Co., Inc., Defendants.
United States District Court, W.D. Michigan, S.D.https://leagle.com/images/logo.png
July 2, 1993.
July 2, 1993.
Attorney(s) appearing for the Case
Peter W. Steketee, Peter N. Rigas, Grand Rapids, MI, Kent, for plaintiffs.
Grant J. Gruel, Gruel, Mills, Nims & Pylman, Grand Rapids, MI, Kent, for Dolinka, Smith & Van Noord, Marvin J. Dolinka, Harold J. Smith, Kenneth Van Noord, Gerald R. Vander Lugt, Bruce A. Jelsema.
William C. Reens, Borre, Peterson, Fowler & Reens, PC, Grand Rapids, MI, Kent, Gary M. Saretsky, Hertz, Schram & Saretsky, PC, Bloomfield Hills, MI, Oakland, for Harold J. Smith.
Boyd A. Henderson, Gordon J. Quist, James R. Peterson, Miller, Johnson, Snell & Cummiskey, Grand Rapids, MI, Kent, for Robert W. Baird & Co., Inc.
D. Scott Stuart, Farr & Oosterhouse, Grand Rapids, MI, Kent, for BMMG Capital Corp., Gregory E.V. Dodgson, John Dodgson, Michael G. Dodgson, Tony K. Knight, W.E. Stevenson, James Van Til, Raymond A. Weigell, III, D.H. Brush & Associates, Ricky Kraai, Susan Kraai, Robert E. Schermer, Sr., Charles Gardiner, Ted Vogt, Daniel H. Brush, Donald Morsink, Paul Kleinheksel.
Thomas M. Weibel, Smith, Haughey, Rice & Roegge, PC, Grand Rapids, MI, Kent, for Timothy Moore.
Bradley J. Schram, Gary M. Saretsky, Dana Donohue, Hertz, Schram & Saretsky, PC, Bloomfield Hills, MI, Oakland, for Oppenheimer & Co., Inc., Sheldon Altman.
United States District Court, W.D. Michigan, S.D.
HILLMAN, Senior District Judge.
This is an amended opinion. On June 4, 1993, this court issued an opinion on all pending motions. Thereafter, plaintiffs filed a motion for clarification and reconsideration of the opinion as it relates to plaintiffs' churning claim. The court withdraws the opinion of June 4, 1993. Following is an amended opinion in which section B-2, The Churning Claim, has been rewritten.
Plaintiffs Sheldon Company Profit Sharing Plan and...
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