COOPERATIVA DE AHORRO v. KIDDER, PEABODY & CO.

No. 96-2282.

129 F.3d 222 (1997)

COOPERATIVA DE AHORRO Y CREDITO AGUADA, Plaintiff, Appellant, v. KIDDER, PEABODY & COMPANY, Paine Webber Incorporated, Ramon M. Almonte, Mayleen Gratacos and the property partnership existing between them, Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided November 12, 1997.


Attorney(s) appearing for the Case

Enrique Peral, Hato Rey, PR, with whom Roberto Boneta and Munoz Boneta Gonzalez Arbona Benitez & Peral were on brief, for appellant.

Nestor M. Mendez-Gomez, San Juan, PR, with whom Pietrantoni Mendez & Alvarez was on brief, for appellee Kidder, Peabody & Company.

Maria Bobonis-Zequeira, San Juan, PR, with whom Harry E. Woods and Woods & Woods were on brief, for appellees Ramon Almonte and Mayleen Gratacos.

Before SELYA and BOUDIN, Circuit Judges, and YOUNG, District Judge.


BOUDIN, Circuit Judge.

The present appeal arises out of a federal securities lawsuit filed by Cooperativa de Ahorro y Credito Aguada ("Cooperativa"). Cooperativa is a small, one-branch savings and loan "cooperative" located in Aguada, Puerto Rico. Between June and December 1986, Cooperativa purchased $3.5 million in Drexel Burnham Lambert "unit trusts," securities representing participations in several trusts whose assets were corporate bonds. The securities were...

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