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STINSON v. VAN VALLEY DEVELOPMENT CORP.

Civ. A. No. 87-7922.

719 F.Supp. 362 (1989)

Gilda STINSON and Robert T. Stinson v. VAN VALLEY DEVELOPMENT CORPORATION, Richard Liddell, James L. Hutson, Miller & Schroeder Municipals, Inc., Laventhol & Horwath.

United States District Court, E.D. Pennsylvania.

August 10, 1989.

Attorney(s) appearing for the Case

Mitchell A. Kramer and Larry M. Keller, Philadelphia, Pa., and Robert D. Greenbaum, for plaintiffs.

Douglas Eason, Fuller Tubb & Pomeroy, Oklahoma City, Okl., for Richard Liddell.

Alexander Kerr, Hoyle, Morris & Kerr, Philadelphia, Pa., for Miller & Schroeder Municipals, Inc.

David Pittinsky and Lawrence Berger, Philadelphia, Pa., for Laventhol & Horwath.

W. Michael Drake, Judith A. Rogosheske and Rebecca E. Bender, Drake & Rogosheske, Minneapolis, Minn., pro hac Vice, for Miller & Schroeder Municipals, Inc.

Stacey L. Schwartz and Philip L. Blackman, Philadelphia, Pa., pro hac vice, and Loutitia Denison Eason, Lawrence Ellis & Harmon, Oklahoma City, Okl., for James L. Hutson.

MEMORANDUM AND ORDER

HANNUM, Senior District Judge.

The issue is whether a fraud-created-the-market presumption of reliance is available to the plaintiffs, Gilda Stinson and Robert Stinson ("Stinsons"). The Stinsons allege that they and the class they seek to represent were defrauded in their purchase of Copper Lake Manor revenue bonds.1 In response to the Court's May 19, 1989 Memorandum...

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