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ADALMAN v. BAKER, WATTS & CO.

Civ. No. Y-83-2485.

599 F.Supp. 749 (1984)

Sylvia L. ADALMAN, et al., v. BAKER, WATTS & CO., et al.

United States District Court, D. Maryland.

December 13, 1984.

Attorney(s) appearing for the Case

David Machanic, Fairfax, Va., John R. Erickson, Great Falls, Va., Frederick T. Spindel, Washington, D.C., David MacDonald, and Michael M. Cramer, Rockville, Md., for plaintiffs.

Andrew J. Graham, Baltimore, Md., Joseph D. Lonardo, Columbus, Ohio and Ellen Efros, Washington, D.C., for defendants and third-party plaintiffs.

Jervis S. Finney, and James B. Wieland, Baltimore, Md., for third-party defendants Julia M. Walsh & Sons, Inc., Henry T. Donaldson, and Thomas D. Walsh; Scott R. Schoenfeld, Washington, D.C., of counsel.

James W. Constable, David C. Daneker, Baltimore, Md., and David M. Doret, Philadelphia, Pa., for third-party defendant Elkins & Co.

J. Paul Mullen, Steven E. Leder, Baltimore, Md., Jay H. Calvert, and Eric Kraeutler, Philadelphia, Pa., for third-party defendant Beavers.

MEMORANDUM

JOSEPH H. YOUNG, District Judge.

Defendants Baker, Watts & Company and BW Resources, Inc. have filed a motion for summary judgment, asking this Court to determine that, based on undisputed facts, plaintiffs' claims must fail as a matter of law. Defendants assert that the language of Section 12(2) of the 1933 Securities Act ("the 1933 Act") permits an action by the purchaser of securities only against his immediate seller, and that Baker, Watts...

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