Richard C. BECHERER, et al., Plaintiffs-Appellants,
v.
MERRILL LYNCH, PIERCE, FENNER & SMITH, INC., et al. Defendants-Appellees.
United States Court of Appeals, Sixth Circuit.https://leagle.com/images/logo.png
Submitted June 4, 1997.
Decided September 22, 1997.
Attorney(s) appearing for the Case
Bruce E. Gerstein (briefed), Garwin, Bronzaft, Gerstein & Fisher, New York City, John P. Zuccarini and Elwood S. Simon (briefed), Elwood S. Simon & Associates, Birmingham, MI, for Plaintiff-Appellant.
David C. Andrew (briefed), Baker, Donelson, Bearman & Caldwell, Memphis, TN, Dennis K. Egan (briefed), Barbara L. McQuade, Butzel Long, Detroit, MI, for Defendant-Appellee Merrill Lynch, Pierce, Fenner and Smith, Inc, Martin Cicco.
Jon B. Gandelot, Grosse Pointe Woods, MI, Steve W. Gaskins (briefed), Cosgrove, Flynn & Gaskins, Minneapolis, MN, for Defendants-Appellees Can-American Corporation, Can-American Realty Corporation, Garrett G. Carlson, Graham C. Count, Arni Thorsteinson.
Mary C. Yeager (briefed), Faegre & Benson, Minneapolis, MN, Jon B. Gandelot, Grosse Pointe Woods, MI, Steve W. Gaskins (briefed), Cosgrove, Flynn & Gaskins, Minneapolis, MN, for Defendant-Appellee Shelter Seagate Corp.
Stephen F. Wasinger, Honigman, Miller, Schwartz & Cohn, Detroit, MI, for Defendant-Appellee Laventhol & Horwath.
Lawrence G. Campbell, Dickinson, Wright, Moon, Van Dusen & Freeman, Detroit, MI, Robert P. Hurlbert, Dickinson, Wright, Moon, Van Dusen & Freeman, Chicago, IL, for Defendant-Appellee M.A. Mortenson Co.
James R. Case, Kerr, Russell & Weber, Detroit, MI, Melissa M. Horne, Winograd, Shine, Providence, RI, for Defendant-Appellee Winsor/Faricy Architects, Inc.
Laura S. Stafford, Walton & Stafford, Detroit, MI, Jonathan T. Walton, Jr., Detroit, MI, for Defendant-Appellee Trustbank Mortgage Center, Incorporated.
Frank W. Brochert, Plunkett & Cooney, Detroit, MI, Timothy D. Wittlinger, Hill, Lewis, Adams, Goodrich & Tait, Detroit, MI, Lawrence G. Campbell, Dickinson, Wright, Moon, Van Dusen & Freeman, Detroit, MI, for Defendant-Appellee Midwest Title Guarantee Company of Florida.
Dennis K. Egan, Barbara L. McQuade, Butzel Long, Detroit, MI, for Defendant-Appellee Frank Lavin.
Before: MARTIN, Chief Judge; RYAN and BATCHELDER, Circuit Judges.
United States Court of Appeals, Sixth Circuit.
OPINION
BOYCE F. MARTIN, JR., Chief Judge.
On August 21, 1989, six plaintiffs, led by Richard C. Becherer, filed a complaint as a putative class action on behalf of approximately four hundred investors in a non-residential condominium hotel known as The Registry Hotel in Naples, Florida. The complaint alleged, among other things, that SSG,1 which developed the hotel, and Merrill Lynch, Pierce, Fenner & Smith, the underwriters...
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