BENTON v. MERRILL LYNCH & CO., INC.

No. 07-2224.

524 F.3d 866 (2008)

William B. BENTON; Frank G. Barton, Jr.; James H. Barton; Walter Edge; Gene Graves; Thomas H. Hoffman, Individually, & as Trustee of the Hoffman Family Revocable Living Trust; Erskin Hubbard; Jane Hubbard; Stephen Inzinna; Gene Jolley; Thomas M. Keesee, Jr.; Gray Langston; Charles Myers; Logan C.B. Young, Jr., Individually, & as Trustee of the Logan C.B. Young, Jr. Trust, and the Logan C.B. Young, III Trust; McBank and Company, Trustee for Jean Thomas; Osceola Investments, Inc.; David Pearson; Sherry Pearson; Gary Prosterman; Smelley Family Investments, LLC; Harry L. Smith; Jean P. Thomas; Herbert Thomas; Bruce Thompson; Rick Turner; Charles M. West; Clare Williams; Kirby Williams; Young Family Limited Partnership; Nancy Zuerlein; Terrance Zuerlein, Trustee for the Zuerlein Educational Fund; Rex Jones; Leslie Jones; Bayou Bend Partners; Howard Kent; Russell E. McAlister, Jr.; Marge Sharpe; Mary Jordan, Plaintiffs-Appellants, v. MERRILL LYNCH & COMPANY, INC., Defendants-Appellee Refco, LLC, Defendant.

United States Court of Appeals, Eighth Circuit.

Filed: May 5, 2008.


Attorney(s) appearing for the Case

Lawrence W. Jackson, argued, West Memphis, AR (Kent J. Rubens, on the brief), for appellant.

Bradley B. Rounsaville, argued, Birmingham, AL (John A. Smith, III, on the brief), for appellee.

Before BYE, BEAM and GRUENDER, Circuit Judges.


BYE, Circuit Judge.

William B. Benton and approximately forty other investors appeal the district court's1 orders dismissing their Complaint and Amended Complaint for failure to state facts on which relief could be granted under two theories of recovery—violation of the Arkansas Securities Act and common law fraud. We affirm.

I

This action was filed by the plaintiffs (collectively the "investors") who had loaned...

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