STATE of West Virginia ex rel. Darrell V. McGraw, Jr., Attorney General, Plaintiff
v.
BEAR, STEARNS & CO., INC.; Citigroup Global Markets, Inc. (FKA Salmon Smith Barney, Inc.); Credit Suisse First Boston LLC; Goldman, Sachs & Co.; Lehman Brothers, Inc.; Merrill Lynch; J.P. Morgan Securities, Inc., Morgan Stanley & Co., Inc.; UBS Warburg, LLC; and U.S. Bancorp Piper Jaffray, Inc., Defendants
Supreme Court of Appeals of West Virginia.https://leagle.com/images/logo.png
Submitted June 8, 2005.
Decided July 7, 2005.
Concurring and Dissenting Opinion of Justice Starcher July 12, 2005.
Attorney(s) appearing for the Case
Darrell V. McGraw, Jr., Esq., Attorney General, Frances H. Hughes, Esq., Chief Deputy Attorney General, Silas B. Taylor, Esq., Senior Deputy Attorney General, Charleston, West Virginia, R. Edison Hill, Esq., James C. Peterson, Esq., Hill, Peterson, Carper, Bee & Deitzler, Charleston, West Virginia, Barry Hill, Esq., Teresa Clark Toriseva, Esq., Hill, Toriseva & Williams, Wheeling, West Virginia, Rudolph L. DiTrapano, Esq., Sean McGinley, Esq., Joshua I. Barrett, Esq., DiTrapano, Barrett & DiPiero, Charleston, West Virginia, Marvin W. Masters, Esq., Masters & Taylor, Charleston, West Virginia, for Plaintiff.
Rebecca A. Betts, Esq., Bryant J. Spann, Esq., Allen, Guthrie, McHugh & Thomas, Charleston, West Virginia, Attorneys for Bear, Stearns & Lehman Bros.
Thomas R. Goodwin, Esq., Susan Wittemeier, Esq., Raymond S. Franks, II, Esq., Goodwin & Goodwin, Charleston, West Virginia, Attorneys for Citigroup Global Markets.
David Allen Barnette, Esq., Jackson Kelly, Charleston, West Virginia, Attorney for Credit Suisse First Boston.
John H. Tinney, Esq., The Tinney Law Firm, Charleston, West Virginia, for Goldman Sachs.
Charles M. Love, III, Esq., P. Michael Pleska, Esq., Bowles Rice McDavid Graff & Love, Charleston, West Virginia, Attorneys for Merrill Lynch, et al.
William D. Wilmoth, Esq., Steptoe & Johnson, PLLC, Wheeling, West Virginia, Attorney for Morgan Stanley.
William J. Cooper, Esq., Flaherty, Sensabaugh & Bonasso, Charleston, West Virginia, Attorney for J.P. Morgan & U.S. Bankcorp.
Edward D. McDevitt, Esq., Bowles Rice McDavid Graff & Love, Charleston, West Virginia, Attorney for UBS Warburg.
Supreme Court of Appeals of West Virginia.
MAYNARD, Justice:
In this case, we answer a certified question from the Circuit Court of Marshall County which we reformulate1 as follows:
Does the Attorney General of West Virginia have the authority pursuant to W.Va. Code § 46A-6-104 (1974) of the Consumer Credit and Protection Act to bring an action based upon conduct that is ancillary to the general business of buying and selling securities?
For the reasons set...
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