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SCRIPPS v. SMITH, HAGUE & CO., INC.

Civ. A. No. 87-70204.

679 F.Supp. 676 (1988)

Keith A. SCRIPPS and Diane A. Scripps, Plaintiffs, v. SMITH, HAGUE & CO., INC., a Michigan corporation; Henry Ansbacher, Inc., a Delaware corporation; Henry Ansbacher Holdings, Inc., a Delaware corporation; Harold R. Boyer, Jr.; and John Doe, unknown principal of Henry Ansbacher, Inc. and/or Henry Ansbacher Holdings, Inc., and/or Smith, Hague & Co., and Harold Boyer, Jr., Defendants.

United States District Court, E.D. Michigan, S.D.

January 26, 1988.

Attorney(s) appearing for the Case

Reuben M. Waterman, Jr., Thomas H. Keating, Waterman, Bramlage & Keating, Detroit, Mich., for plaintiffs.

Laurence M. Scoville, Jr., David E. Nims, Jonathan T. Walton, Jr., Clark, Klein & Beaumont, Dennis Egan, Butzel, Keidan, Simon, Myers & Graham, Detroit, Mich., Mindy J. Spector, Robert F. Brodegaard, Weil, Gotshall & Manges, New York City, for defendants.

MEMORANDUM OPINION AND ORDER

FEIKENS, District Judge.

Plaintiffs, former shareholders of the Evening News Association (ENA), allege that the sale of their stock to defendants was accomplished by fraud and misrepresentation in violation of the securities laws, the Racketeer Influenced and Corrupt Organizations Act (RICO) and state law. Because they allege they were induced to sell their ENA stock at a much lower price than was later paid during a tender offer...

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