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MATTER OF VMS SECURITIES LITIGATION

Nos. 95-2526, 95-2635, and 95-2619.

103 F.3d 1317 (1996)

In the Matter of: VMS SECURITIES LITIGATION. In the Matter of: VMS LIMITED PARTNERSHIP SECURITIES LITIGATION Robert Taylor, Roberta Taylor, Foster Fluetsch, Lorna Crooks, Jack Shoemaker, Marie Shoemaker, and David Sells, Plaintiffs-Appellants-Cross-Appellees, v. PRUDENTIAL SECURITIES INCORPORATED, Defendant-Appellee-Cross-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided December 31, 1996.

Attorney(s) appearing for the Case

Joseph A. Grear, Rolf O. Stadheim, Stadheim & Grear, Chicago, IL, Allan S. Haley (argued), Archibald M. Mull, III, Old Sacramento, CA, William J. Barcellona, Irving H. Perluss, Edward T. Clifford, Greve, Clifford, Wengel & Paras, Sacramento, CA, for Plaintiffs-Appellants-Cross-Appellees.

Miriam Goldman Bahcall (argued), Rawn H. Reinhard, Coffield, Ungaretti & Harris, Donna L. McDevitt, Timothy A. Nelsen, Skadden, Arps, Slate, Meagher & Flom (Illinois), Chicago, IL, for Defendant-Appellee-Cross-Appellant.

Before LAY, CUDAHY, and KANNE, Circuit Judges.

KANNE, Circuit Judge.

This case involves a group of investors who attempted to bring a state class action lawsuit in California alleging that Prudential Securities, Inc. ("Prudential") fraudulently induced them to participate in two class action settlements in the United States District Court for the Northern District of Illinois. The federal district court approved the two settlements and entered final judgments thereon.

Subsequently, Robert Taylor, Roberta...

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