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DONOHOE v. CONSOLIDATED OPERATING & PRODUCTION, CORP.

No. 93-3610.

30 F.3d 907 (1994)

Terrence DONOHOE, Bernard Medville, Clarence Drucker, et al., Plaintiffs-Appellants, v. CONSOLIDATED OPERATING & PRODUCTION CORPORATION, C. Morando Berrettini and Jack Nortman, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided July 28, 1994.

Attorney(s) appearing for the Case

Herbert Beigel, Leigh R. Lasky, Norman Rifkind (argued), Patrick Sherlock, Beigel, Schy, Lasky, Cohen, Rifkind & Hennessey, Chicago, IL, Bruce M. Rose, Westchester, IL, for plaintiffs-appellants.

Douglas P. Roller (argued), Roller & Associates, Naperville, IL, for defendants-appellees.

Before BAUER, WOOD, Jr. and CUDAHY, Circuit Judges.

CUDAHY, Circuit Judge.

We address here the one remaining issue in this complex securities fraud suit arising out of an ill-fated oil-drilling project. The plaintiffs' claim, in a nutshell, is that the defendants fraudulently lured them into investing in a project to drill oil wells on land in which the defendants fully knew there wasn't any oil to be found.1 Terrence Donohoe and 53 other aggrieved...

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