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ROBERT N. CLEMENS TRUST v. MORGAN STANLEY DW, INC.

No. 06-5525.

485 F.3d 840 (2007)

The ROBERT N. CLEMENS TRUST, et al., Plaintiffs-Appellants, v. MORGAN STANLEY DW, INC., Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: May 2, 2007.

Attorney(s) appearing for the Case

ARGUED: H. Naill Falls, Falls & Veach, Nashville, Tennessee, for Appellants. Richard A. Rosen, Paul, Weiss, Rifkind, Wharton & Garrison, New York, New York, for Appellee.

ON BRIEF: H. Naill Falls, Falls & Veach, Nashville, Tennessee, for Appellants. Richard A. Rosen, Paul, Weiss, Rifkind, Wharton & Garrison, New York, New York, for Appellee.

Before: NORRIS, COLE, and CLAY, Circuit Judges.

OPINION

R. GUY COLE, JR., Circuit Judge.

The Robert N. Clemens Trust, Automobile Consumer Service Corporation, John D. Brandon, Jr., Pat F. Wakefield, and Marty D. Jackson (collectively the "Plaintiffs") brought this class-action suit against Morgan Stanley DW, Inc. ("Morgan Stanley"). Plaintiffs allege that Morgan Stanley's brokers recommended to Plaintiffs the purchase of unsuitable securities in violation of Section 10(b) of the Securities and Exchange...

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